POSCO planning steel plate manufacturing plant in Saudi Arabia
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Update time : 2020-12-07 16:50:19
POSCO and Saudi Arabian Oil Co. (Saudi Aramco) have signed a memorandum of understanding (MoU) to jointly study the feasibility of steel plate plants.
As part of the In-Kingdom Total Value Add (iktva) program that Saudi Arabia has been promoting since 2015, Aramco continued to establish new international partnerships, including the area of steel plate manufacturing.
Once it is determined that the MoU project is commercially viable, POSCO will actively accelerate the construction of this plate plant in Saudi Arabia.
On the other hand, the products of stainless steel cold rolling mills operated by POSCO in Turkey have already covered Southeast Asian markets. Therefore, the cooperation with Aramco will once again embody the economic benefits of localized production and strengthen the supply chain.
