US-based Gordon Brothers undertook the sale of an unused 2 million tons/year flat steel and 1 million tons/year long steel production facility in Dammam, Saudi Arabia. In 2007, the equipment purchased from Posco to increase production capacity could not be commissioned due to the global financial crisis and was postponed due to the COVID-19 pandemic.
The plant's equipment was manufactured between 1994 and 2008 and stored according to OEM instructions. The owners decided to put this advanced and almost completed plant up for sale as market conditions improved. The plant is being offered for sale with a straight steel production capacity of 2 million tons/year and a long steel capacity of 1 million tons/year.
Major equipment at the plant includes 4-stand ticket casting machines, thin slab casting machines, 5-stand hot rolling mills, induction and electric arc furnaces. Diesel generators and overhead cranes are also among the plant's assets.
Once operational, the plant is expected to boost local production thanks to strong demand supported by major construction and infrastructure projects in the region. Increased production of flat steel in particular presents a significant opportunity as there is a large market gap in the GCC region.
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