SeAH Gulf Special Steel Industries (SeAH GSI) has broken ground on a new 900-million Saudi riyal ($240 million) stainless-steel seamless pipes and tubes production facility in King Salman Energy Park (SPARK) in the Eastern Province, the company said in a statement.
SeAH GSI is a joint venture between Saudi Arabian Industrial Investments Company (Dussur) and Korean steel manufacturer SeAH CSS.
The new facility, covering almost 178,000 square metres, will have an operating capacity to produce 20,000 tonnes of seamless pipes and tubes per annum. The facility is expected to begin operations in 2025, the statement said.
“As a national megaproject, SPARK is committed to localising the energy supply chain to drive a diverse industrial economy, catalysing the National Industrial Strategy, in line with Vision 2030,” said SPARK President and CEO Saif Al Qahtani.
In September 2022, SeAH Gulf Special Steel had awarded the engineering, procurement and construction (EPC) contract to a local firm Sendan International Company for the project.
(Writing by D Madhura; Editing by Anoop Menon)