World’s Largest Steelmaker Signs MoU for Possible Plate Mill JV in Saudi Arabia
09/09/2021 - Chinese steel giant Baoshan Iron & Steel Co. (Baosteel) has joined forces with the world’s largest oil-producing company to pursue development of a steel plate mill in Saudi Arabia, reports the Reuters news service.
Saudi Aramco, the Saudi Arabian state-run oil giant, has signed a non-binding memorandum of understanding with Baosteel to conduct an engineering study on an integrated plate mill joint venture in the country. According to Reuters, the proposed mill would produce heavy steel plates popular in construction applications.
Read the full story from Reuters here.
