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Vale Settles Long-Term Contract with SABIC
10/07/2009 - Vale has signed a new long-term contract with Saudi Basic Industries Corp. to supply direct reduction pellets to its plant in Saudi Arabia.
Vale S.A. has signed a new long-term contract with Saudi Basic Industries Corp. (SABIC) to supply direct reduction pellets to its plant in Saudi Arabia.
Under this new contract, Vale will annually supply about 3.3 million tonnes of direct reduction pellets for 10 years.
The contract was signed by Abdulaziz Sulaiman Al-Humaid, SABIC Vice President for Metals and Hadeed Chairman of Board, and by José Carlos Martins, Vale's Executive Director of Ferrous Minerals.
