Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Vallourec sets up new venture in Dammam  Join our daily free Newsletter

MENAFN - Arab News - 16/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Eastern Province Gov. Prince Saud bin Naif on Wednesday opened the Vallourec plant for manufacturing oil and gas pipes at the 2nd industrial city in Dammam. He also inaugurated the MODON lake



Minister of Commerce and Industry Tawfiq Al-Rabiah, French Ambassador Bertrand Besancenot, Vallourec CEO Philippe Crouzet as well as officials and businessmen were among those present



Speaking to media, Al-Rabiah assured that his ministry will continue to help commercial initiatives both from the public and private sectors. "We have 647,220 plants and 94 of them are still under construction. The total cost of these plants has reached SR800 billion and Saudization in these plants is 70 percent," he said, adding that there are seven industrial cities in the Eastern Province, including Dammam and Hafr Al-Batin. A few industries cities in the province are under construction



Tariq Al-Qahtani, chairman of Abdulahdi Al-Qahtani company, stressed that Vallourec has a great reputation as one of the largest companies in the production of OCTG, which has reached west Europe, America and Brazil, and now Saudi Arabia. He added: "Vallourec has research and development centers, and they have more than 500 researchers in the development of technology and products.



Al-Rabiah pointed out that there is coordination between the ministries of labor and commerce regarding the facilitation of visas. He emphasized that without adhering to the required Saudization percentage, no visas will be facilitated to any plant. He added: "Also, there is coordination with the official environmental agencies regarding pollution in the plants." The Ministry of Commerce and Industry has not shut down any plant on account of pollution but it did close plants for sewage and other reasons.



Saleh Al-Rashid, general director of MODON, said the area of the project is 400,000 square meters and the size of the lake is 210,000 square meters He added: "The project includes landscaping and planting 760 palm trees as well as 4 km of aesthetics." He added: "This project achieves sustainable development combining three elements of the environment, industry, and community services.



Philippe Crouzet stated that this plant will enhance the presence of Vallourec in the Saudi market by providing the latest and modern technology in oil and gas pipelines in the Kingdom and elsewhere in the Middle East. He added: "The annual production capacity of this plant is set to reach more than 100,000 tons, however, the company will provide the latest technology in the manufacturing of gears and pipes in order to produce more than 100,000 tons



He highlighted that this plant is a result of strong partnership between Vallourec and Abdulhadi Al-Qahtani administration for over 50 years. "This has given an added competitive advantage in the local market, especially in the matter of manufacturing and delivery. Regarding the number of jobs, he assured this plant will create 200 new jobs for Saudis

 






  MENA News Headlines
 Jul 23 2014 - Majid Al Futtaim posts USD3.5b H1 revenuesMENAFN
(MENAFN) Dubai-based shopping mall developer Majid Al Futtaim (MAF) posted a 14 percent growth in the first-half revenues, citing growing earnings across its business units, Emirates 24/7 ...

 Jul 23 2014 - Bahrain's BCFC profit up 13 percent in H1MENAFN
(MENAFN) Bahrain Commercial Facilities Company (BCFC) saw a 13 percent rise in consolidated net profit at USD19.1 million in the first half of the current year compared to USD16.88 million in the ...

 Jul 23 2014 - Asian, Western firms to invest in UAE's oilfieldsMENAFN
(MENAFN) Asian and western firms plan to help operate the UAE's biggest oilfields after a deal with oil majors expired this year, according to Arabian Business.A final decision on the winning firms ...

 Jul 23 2014 - Dubai's Arenco awards Chinese firms two contractsMENAFN
(MENAFN) China State Construction Engineering Co (CSCEC), the Asian superpower's third largest construction firm, has been awarded two contracts from Dubai-based based developer Arenco Real Estate to ...

 Jul 23 2014 - Kuwait- All must work to encourage youth to be creative productive: AmirArab Times
(MENAFN - Arab Times) WAIT CITY July 21 (KUNA): His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Monday at Seif Palace the top ten winners of Al-Mubader Youth-Support and Small ...

 Jul 23 2014 - Female thief caught red-handed at Grand MosqueArab News
(MENAFN - Arab News) A female pickpocket was caught at the Grand Mosque in Makkah with more than SR100000 in cash gold mobile phones and women's bags an online paper reported.Field teams working with ...

 Jul 23 2014 - UAE's Just Falafel to expand in OmanMENAFN
(MENAFN) UAE-based food operator Just Falafel said it plans to expand in Oman in a deal to open 10 new outlets, according to Arabian Business.The new stores will be distributed in several places ...

 Jul 23 2014 - Africas oil amp gas sector continues to show substantial growth despite regulatory uncertaintyMENAFN Press
(MENAFN Press) JOHANNESBURG South-Africa July 23 2014/African Press Organization (APO)/ -- The challenges facing oil & gas companies operating in Africa continue to be diverse and numerous fuelled by ...

 Jul 23 2014 - Central African republic sanctions draw attention recomendationMENAFN Press
(MENAFN Press) NEW YORK July 23 2014/African Press Organization (APO)/ -- On 21 July 2014 the Security Council Committee established pursuant to resolution 2127 (2013) concerning the Central African ...

 Jul 23 2014 - Switzerland commits a further CHF 500000 to fight Ebola epidemic in West AfricaMENAFN Press
(MENAFN Press) BERN Switzerland July 23 2014/African Press Organization (APO)/ -- The SDC is allocating CHF 500000 to support Médecins Sans Frontières-Switzerland (MSF-Suisse) in its work to combat ...

more...


 






Google

Taqs

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help