South Korea's Doosan bags deal to build metal casting, forging plant in Saudi Arabia for SAR 3.1 bln

Logo of Doosan Heavy Industries and Construction 

South Korea's Doosan Heavy Industries and Construction said it won a deal worth one trillion won (SAR 3.13 billion) from Tuwaiq Casting & Forging Co. to build a metal casting and forging plant in Saudi Arabia, Yonhap News Agency reported.

Under the deal, Doosan plans to build the largest metal casting and forging facility in Saudi Arabia, with a capacity of 60,000 tons per annum (tpa) at King Salman Global Maritime Industries Complex, near Jubail Industrial City.

The company expects that the construction work will start in 2022 and end in the first quarter of 2025.

In January 2022, Saudi Aramco signed an agreement with Korea’s Doosan Heavy Industries & Construction Co. and Saudi Arabian Industrial Investments Co. (Dussur), Argaam earlier reported.

This partnership aims to establish a casting and forging facility that could supply the Kingdom’s manufacturers with industrial and process equipment such as valves, pumps, compressors, wellheads, flanges, heat exchangers, and gas and wind turbines, with the objective to enhance local content.

Dussur owns 70% of the joint venture (JV), while Saudi Aramco Development Co. and Doosan own 15% each. The planned JV has a production target of 60,000 tpa.