Newsletter
Jindal Saw rolled out fresh $118 million capex plans to expand its footprint in the Middle East’s iron and steel sector.
The deets: the company’s board has greenlit three international investments aimed at tapping into growing demand in the region’s oil, gas, and water infrastructure markets.
The breakdown:
- Abu Dhabi, UAE: a 100%-owned seamless pipe plant with a capacity of 300,000 tonnes per year to serve the oil & gas sector. Investment: up to $105 million, completion in ~3 years.
- Saudi Arabia (JV with Buhur): a spiral welded (HSAW) pipe plant, with Jindal holding 51% stake. Investment: up to $10 million, timeline ~2 years.
- Saudi Arabia (JV with RAX): a ductile iron pipe facility, with Jindal holding 51% stake. Investment: up to $3 million, completion in 12–18 months.
