Saudi Steel in expansion upswing

04/02/2014 11:08 AST

Saudi Steel has signed a memorandum of understanding (MoU) with OTO Mills, Italy to purchase a new tube mill line with an option to buy two more lines. The total deal is worth 8 million euros and is financed by the Italian export agency. The 8th line will add more than 110,000 tons of tube capacity to SSP’s existing capacity. Oto Mills is an Italian-based world’s leading manufacturer of tube mill systems and have supplied hundreds of tube mills system to customers around the globe. Seen in the picture are Mohamed H. Zakaria (right), CEO & General Manager of Saudi Steel, and Tarkeq Bamieh of Oto Mills after signing the MoU.


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