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Italy's Danieli Wins $213 Million Saudi Deal - ASHARQ AL-AWSAT English Archive
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RIYADH,(Reuters) – Italian foundry equipment maker Danieli has been awarded a contract to build a steel plant in Saudi Arabia worth 800 million riyals ($213.3 million), the firm’s Saudi client Al-Rajhi Steel said on Saturday.

Al-Rajhi Steel, one of Saudi Arabia’s three largest steel companies, signed the agreement with Danieli to build the 1 million tonne per year steel rebar plant on Thursday, it said in a statement.

The plant, which will be located in the Red Sea port city of Jeddah, will take 22 months to build and will start production in November, 2011, it added.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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