Doosan Heavy Industries and Construction has announced the groundbreaking of the Tuwaiq Casting & Forging factory in Ras Al Khair region of the Kingdom. The facility will have a total capacity to produce 60,000 tons of castings and forgings per year.
Tuwaiq Casting & Forging is a joint venture between Doosan Heavy, Saudi Arabian Industrial Investments Company (Dussur), and Saudi Aramco Development Company, which was set up in January 2022.
At $834 million, the foundry and forging plant will be built at the King Salman Shipbuilding Complex near Jubail in eastern It is slated for completion in the first quarter of 2025.
At $834 million, the foundry and forging plant will be built at the King Salman Shipbuilding Complex
The factory, which will be built on a 400,000m2 site, will produce cast and forged materials for petrochemical plant pumps and valves, as well as equipment for shipbuilding and offshore facilities.
Speaking at the groundbreaking, Ras Al Khair Industrial Park CEO Ahmed bin Mohammed Hassan explained: “The foundry and forging plant construction is the Kingdom’s first project and is part of a joint effort to build a complete value chain with coastal industrial production, thereby extending this value chain from Saudi raw materials on land to end products such as excavators and ships.
The factory, which will be built on a 400,000m2 site, will produce cast and forged materials
“With this project, not only are we casting basic steel parts for the offshore yards of the industrial city of Ras Al Khair, but also the entire kingdom. We have confirmed that we are aiming to mold the general energy products and service requirements of.”
He also stated that Saudi Arabia aims to create 1,400 new jobs with the construction of the plant, with a Saudization ratio of more than 50%.