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South Korea’s Doosan to build $834m steel casting plant in Saudi Arabia

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15 Feb 2022 01:02:14 GMT9
15 Feb 2022 01:02:14 GMT9

Arab News

RIYADH: South Korea’s Doosan Heavy Industries & Construction has won a 1 trillion won ($834 million) deal to build a 60,000-ton-a-year plan metal casting and forging plant in Saudi Arabia. 

Under the deal, the construction of the plant at the King Salman Global Maritime Industries Complex in Ras Al-Khair will start in 2022, and be completed in the first quarter of 2025, Yonhap News Agency reported. 

The contract is awarded by Saudi Tuwaiq Casting & Forging Co. a joint venture established last month between Doosan, Saudi Dussur Industrial Investments Co. and Aramco’s wholly owned unit Saudi Aramco Development Co.

The plant orders in Saudi Arabia and the Gulf Cooperation Council are expected to grow around 2 trillion won per year in 2028, the agency reported citing the market research firm Frost & Sullivan.

Established in 1962, Doosan Heavy Industries & Construction Co. is a heavy industrial company specialised in the manufacturing and construction of nuclear power plants, thermal power stations, turbines and generators, desalination plants, castings, and forgings.

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