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Saudi oil giant Aramco, Chinese conglomerate Baoshan Iron & Steel Co., Ltd. (Baosteel) and the Public Investment Fund have agreed to set up an integrated steel plate manufacturing complex in Ras al-Khair, one of the four new Special Economic Zones in the kingdom. The project aims to enhance the domestic manufacturing sector and export heavy steel plates to the GCC and MENA. It is expected to produce 1.5 million tonnes of steel plates per year.

Aramco, PIF and China’s Baosteel agree to set up steel complex in Saudi Arabia

Saudi oil giant Aramco, Chinese conglomerate Baoshan Iron & Steel Co., Ltd. (Baosteel) and the Public Investment Fund have agreed to set up an integrated steel plate manufacturing complex in Ras al-Khair, one of the four new Special Economic Zones in the kingdom. The project aims to enhance the domestic manufacturing sector and export heavy steel plates to the GCC and MENA. It is expected to produce 1.5 million tonnes of steel plates per year.

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