VOL. XXXIX

No. 29

15-April-1996

SAUDI ARABIA

SABIC Awards Contract For New HADEED Plant

The Saudi Basic Industries Corporation (SABIC) has awarded a SR3.3bn ($880mn) contract to Austria's Voest-Alpine and its local subsidiary Saudi Voest for the construction of a steel plant at the Jubail complex of the Saudi Iron and Steel Company (HADEED), a wholly-owned affiliate of SABIC. The plant is scheduled to start up in 1999 with an initial capacity of 850,000 tons/year rising to 1mn t/y at a...