SeAH Changwon Integrated Special Steel Corp. announced on August 8 that it had completed a joint venture between SeAH Gulf Special Steel Industries (SGSI) and Saudi Aramco.
The company is pushing to build a stainless steel seamless pipe plant in Saudi Arabia in partnership with the Saudi Arabian Industrial Investment Company (Dussur), of which Aramco is a major shareholder.
SGSI is investing US$230 million to build a plant at the King Salman Energy Park (SPARK), a new city under construction that will become an international hub for the energy industry in eastern Saudi Arabia. The annual output of the plant is 17,000 tons of high value-added stainless steel seamless pipes. Construction will be interrupted in the fourth quarter of this year, with commercial production scheduled for the first half of 2025.
At the same time, Shiya Group said that four products, including Shiya Changyuan Comprehensive Special Steel’s CTC precision stainless steel tube and Shiya Group’s Inox Tech stainless steel welded steel tube, have received new supplier certifications. Aramco Oil Company. World Asia Group is targeting the Middle East market as well as major national projects in Saudi Arabia.