South Korea's SeAH Changwon Integrated Special Steel Corporation announced the establishment of SeAH Gulf Special Steel Industries (SGSI), a joint venture with Saudi Arabian oil company (Saudi Aramco), which will accelerate SeAH Group's expansion in the Middle East.
SGSI will invest $230 million to build a 17,000 tons annual capacity seamless stainless steel pipe plant at King Salman Energy Park (SPARK) in Saudi Arabia. The plant will be completed in the fourth quarter of this year and production is scheduled to begin in the first half of 2025.
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