SAUDI ARABIA

NIC to Go Ahead With Steel Wire Plant 

The Chairman of the National Industrialization Company (NIC), Mr. Mahsoun Jalal, has confirmed that his company is to go ahead with its plan to build a $50mn steel wire drawing plant at Jubail, following the completion of the necessary feasibility studies. Mr. Jalal disclosed that the project, to be set up as joint venture with a West German firm, will obtain up to 90% of its feedstock from the Hadeed plant, an affiliate of the Saudi...