PROJECTS: Dussur, Aramco and Doosan form JV to set up casting and forging facility in Saudi Arabia

The Saudi Arabian Industrial Investments Company (Dussur) announced on Wednesday that it has established a joint venture (JV) with Saudi Aramco, and South Korea’s Doosan Heavy Industries & Construction Co, Ltd to construct, own and operate a world-scale, integrated casting and forging facility in the industrial city of Ras Al Khair.

 

Tuwaiq Casting & Forging Company is expected to have an annual production capability of 60,000 tonnes, Dussur said in a press statement.

 

Commercial operation is expected by the first quarter of 2025, the statement said, adding that the JV expected to localise expertise in multiple high-quality fabrication disciplines and create around 1,400 direct jobs.

 

Dussur said the facility would offer both sand-casting and open die forging processes complemented by machining facilities to meet local demand and later on, expand to regional markets.

 

It said the facility will cater to original equipment manufacturers (OEMs) and local manufacturers of drilling rigs, drilling equipment, engines and marine services, and support local market with the resources needed to produce valves, pumps, compressors, wellheads, pipe flanges, heat exchangers, gas turbines, and wind turbines.

 

Raed Al-Rayes, CEO of Dussur, said the aim of the project is to localise industrial supply chains and sectors such as the oil and gas industry, the marine sector, the auto-mobile industry, and the defense sector.

 

"This is a unique facility that will combine melting, casting, forging, and machining capabilities under one roof serving sectors under Dussur’s mandate of catalysing the development of industrial value chains," he said.

 

In July 2019, Aramco and Dussur had signed a JV agreement with South Korea's Hyundai Heavy Industries (HHI) to manufacture 2-stroke and 4-stroke marine and Electric Power Plants (EPP) engines, as well as marine pumps at Ras Al Khair.