Global oil & gas giant state owned Saudi Aramco has signed an agreement with POSCO under an industrial Investment Programme. Cooperation implies the evaluation of the feasibility of constructing an integrated steel plate manufacturing plant in Saudi Arabia widely used in oil and gas projects. These new collaborations reflect Aramco's commitment to increasing the company's reliability and operational efficiency, as well as its commitment to further enhancing the Kingdom’s commercial ecosystem and increasing employment.
It is not the first attempt of Saudi Aramco to establish steel plate manufacturing in the Kingdom. Earlier, the company signed a memorandum of understanding with Nippon Steel and Sumitomo Metal Corporation, Sumitomo Corporation and Sumitomo Corporation Saudi Arabia to conduct a feasibility study for such a kind of project in the Ras ai-Khair area. Besides, Saudi Iron and Steel Company Hadeed SASIC had plans to install a 1.5 million tonnes per year plate mill in Jubail many years ago but were forced to postpone the initiative