VOL. XLI

No. 28

13-July-1998

SAUDI ARABIA

SABIC And Egyptian Interests Sign Agreement For Joint Venture Steel Plant

The Saudi Basic Industries Corporation (SABIC) and Egyptian interests on 2 July signedan agreement setting up a joint venture company to build a 570,000 ton/year steel plant inAtaqah in the city of Suez on the Red Sea. The new venture - the International SteelIndustries Company - will be owned 35% by SABIC, 35% by al-Markaz al-Duwali (InternationalCenter), a company owned by...