Kuwait-listed Heavy Engineering Industries and Ship-building Company #HEISCO said on Tuesday it is planning to set up steel manufacturing project in Saudi Arabia.

The company said in a bourse statement that its affiliated firm in Saudi Arabia has signed a contract with the Royal Commission for Jubail and Yanbu (RCJY) for leasing 200,000 square metres of land for the project in the Eastern port of Ras Al-Khair at an annual rental value of nearly 900,000 Saudi riyals ($240,000).


Read More: Kuwait’s HEISCO wins $133 million contract from Aramco in Ras Tanura


The “conditional investment agreement” is for the purpose of manufacturing of structured steel, the company said without providing further details.

Source: Zawya


Read Here



Issue 87 of Robban Assafina

(Sept./ Oct. 2023)


Related News