SEOUL– Doosan Heavy Industries & Construction Co., a South Korean plant builder, said Friday it has received a 1 trillion-won (US$834 million) casting and forging plant deal from Saudi Arabia.
Doosan Heavy obtained the order from Tuwaiq Casting & Forging, a three-party joint venture set up by the Saudi Arabian Industrial Investments Co. (Dussur), Saudi Aramco’s wholly owned unit Saudi Aramco Development Co. and Doosan Heavy last month, the company said in a statement.
Doosan Heavy plans to begin the construction of the 60,000-ton-a-year plant at the King Salman Global Maritime Industries Complex in Ras Al-Khair this year and complete it in the first quarter of 2025, it said.
The casting and forging plant orders per year in Saudi Arabia and the Gulf Cooperation Council are expected to grow to about 2 trillion won in 2028, according to market research firm Frost & Sullivan.
Source: Yonhap News Agency