VOL. XXXIX

No. 45

5-August-1996

SAUDI ARABIA

HADEED Awards Davy International $165Mn Contract For Iron Plant

The Saudi Iron and Steel Company (HADEED), a wholly-owned subsidiary of the Saudi Basic Industries Corporation (SABIC), and Davy International of the UK on 29 July signed a SR619mn ($165mn) contract under which the latter will build a direct reduction sponge iron plant with a capacity of 1mn tons/year at HADEED's steel complex in Jubail. A letter of agreement for the project...