Sep 3, 2012
Investors from the United Arab Emirates, Saudi Arabia and Oman have announced a new joint venture to build a steel plant in Oman with a total capital of $400 million.
The announcement of the joint venture - named Dhofar Steel - was made Sunday at the end of the Gulf Partnership and Investment Forum in Salalah, Oman, according to a report published today by Saudi Gazette.
The shareholders include Al Suwaidi Group, Al Tuwairqi Group and Salalah Development Company.
The plant will produce one million tons of steel a year.
© Saudi Press Agency 2012
