VOL. XXXII

NO. 40

10-JULY-1989

SAUDI ARABIA

HADEED Signs Contract for New Steel Plant

The Saudi Iron and Steel Company (HADEED) has signed a contract to build asteel reduction plant with a capacity of 650,000 tons/year of sponge iron at itsJubail facilities. Construction of the new plant, which is part of HADEED'sexpansion plans, is scheduled to start in six months, with completion targetedfor 1991. HADEED - a joint venture owned 95% by the Saudi Basic IndustriesCorporation (SABIC) and 5% by DEG...