Riyadh - Mubasher: Saudi Aramco has recently signed a Memorandum of Understanding (MoU) with Nippon Steel and Sumitomo Metal Corporation (NSSMC) to conduct a feasibility study for an integrated steel mill to produce steel plates in the Ras al-Khair area.
The project will help enhance Saudi- Japanese cooperation and comes in line with the Saudi Vision 2030.
This project is in support of the iktva program, which is designed to increase the local content in Saudi Aramco’s supply chain, as steel plate production goes into the manufacturing of pipes, pressure vessels, marine vessels, offshore platforms, and infrastructure, among other applications, the world’s biggest oil company explained in a statement on Wednesday.
“Saudi Aramco is pleased to sign this MoU, which will enhance the local supply chain supporting Saudi Aramco and others in the Kingdom,” said Ahmad Al Saadi, the vice president of technical services in the Saudi giant.
“The presence of the new steel mill will reduce costs, delivery time, and offer better customer service to the local market,” he added.
