Arcelor Mittal is anticipated to begin manufacturing at its fresh mill at Jubail, in SaudiArabia

The world’s biggest steel maker Arcelor Mittal is anticipated to begin manufacturing at its fresh mill at Jubail, in SaudiArabia, in the 1st half of 2012.

The $700 mn factory will manufacture 600,000 metric_tonnes of pipes per year for the oil & petrochemical industry, a statement in Arabic daily Al-Watan mentioned, stating Mohammed Al-Jabr, Arcelor Mittal’s Md in SaudiArabia.

The firm plans to invest till $3 bn in Saudi_steel_projects above the next 5yrs and is conducting surveys to construct a factory north of Jubail at Ras_Al-Khair, where the govt is starting a mining hub, Mr Al-Jabr mentioned.

Arcelor Mittal mentioned in February, 2007, that it would hold 51percent in a jv with the Bin Jarallah group to build a seamless_tube_plant in Jubail, that would fabricate 500,000 metric_tonnes of steel_tubes and pipes per year.

Be Sociable, Share!
Tags: ,

Stock Market Basics For Beginners

Delisting of securities

Delisting of securities The word 'Delisting of securities' indicates permanent elimination of securities of a listed firm from a stock exchange. As a result of delisting, the securitie's ...…

Dematerialization Definition

Dematerialization Definition Dematerialization (Meaning) is the procedure through which physical certificates of the trader are usually transformed into an equal quantity of securities in electronic form as ...…

Initial Public Offer

Initial Public Offer Initial Public Offer. The initial sale of share by a firm for the public. The commonest reason for a firm to start an IPO is ...…

What is Support And Resistance?

What is Support And Resistance? One of several interesting phenomena of share markets that are usually catchy is a activity of share prices at the blink of eyes. At one ...…

What Is Face Value Of A Share And Debenture?

What Is Face Value Of A Share And Debenture? stated value given to a security by the company. For stocks, it's the original price of the share shown on the certificates for bonds, it's ...…

Indian Share Tips

NSE Investment Site

Market Update

Share Guide

Designed by VMV
web
analytics