Saudi oil firm in feasibility study for steel plates plant

Saudi oil firm Saudi Aramco is looking into the possibility of building a plant for the production of steel plates as part of its efforts to increase the local content in the company’s supply chain. 

Steel plate production goes into the manufacturing of pipes, pressure vessels, marine vessels, offshore platforms, and infrastructure, among other applications.

Saudi Aramco has recently signed a memorandum of understanding (MoU) with Nippon Steel and Sumitomo Metal Corporation (NSSMC), Sumitomo Corporation, and Sumitomo Corporation Saudi Arabia to conduct a feasibility study for an integrated steel mill to produce steel plates in the Ras al-Khair area.

The MoU was signed by Abdulaziz A. Al Abdulkarim, Saudi Aramco vice president of Procurement and Supply Chain Management; Atsushi Iijima, management executive officer of NSSMC; Kazunari Sakata, corporate officer of Sumitomo Corporation; and Masashi Abe, managing director of Sumitomo Corporation Saudi Arabia.

“The presence of the new steel mill will reduce costs, delivery time, and offer better customer service to the local market,” said Al Sa’adi.

NSSMC, headquartered in Japan, is the world’s second largest steel producer by volume as of 2017 with more than 90,000 employees, and is involved in the production of steel and finished steel products used in all industries.

Sumitomo Corporation, also headquartered in Japan, is among the world’s oldest and largest integrated trading and investment enterprises, and has a global network consisting of 139 offices and approximately 800 consolidated subsidiaries and associated companies worldwide.

This project is in support of the iktva program, which is designed to increase the local content in Saudi Aramco’s supply chain.

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

4th Oil and Gas Tanzania 2018 Products & Eqpt. Exhibition in Africa

It is truly remarkable how East Africa, and specifically Tanzania has in a short period of time become the main…

read more >

SPE Asia Pacific Oil & Gas Conference and Exhibition 2018

As the energy industry adapts to a new status quo operating under sustained low oil prices, there continues to be a need for the industry…

read more >

RIO OIL & GAS 2018

The leading oil and gas event in Latin America is organized every two years by the Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply