SeAH and Dussur to form a joint venture.

SeAH, a South Korean holding company located in Seoul, and Dussur, a Saudi government company established in 2014 at Saudi Arabia for the development of strategic industrial investments, agreed to form a joint venture for the construction and operation of a steel plant in the Kingdom of Saudi Arabia. Financial terms were not disclosed. The agreement represents a strategic partnership between SeAH Gulf Special Steel and Spark to allocate a land area of 178k square meters to establish SeAH Gulf Special Steel factory, with a production capacity of 20k tons per year. And the importance of SeAH Gulf Special Steel factory lies in the opportunities of attracting global expertise and localizing the stainless-steel pipe industry, by serving the oil and gas sectors in addition to energy and water.