UAE

Hyundai to Build Sharjah Pipe Plant 

The Sharjah Economic Development Corporation (Shedco) and Hyundai Corporation of South Korea on 27 September signed an agreement to set up a joint venture steel pipe welding plant in al-Saaja area, some 25 kms. from Sharjah. The plant, which will cost an estimated Dh65mn ($17.7mn), will be built by the Sharjah Pipe Manufacturing Company - a joint venture capitalized at Dh22mn ($5.9mn) and owned 60% by Shedco and 40t by Hyundai. It will have a...