Doosan Heavy Industries and Construction (Doosan Heavy) in partnership with Dussur and Saudi Aramco announced the groundbreaking of the Tuwaiq Casting & Forging factory in Ras Al Khair region of Saudi Arabia. The factory has a total capacity to produce 60,000 tonnes 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, a wholly-owned subsidiary of global energy giant Saudi Aramco, which was set up in January this year.
The foundry and forging plant is being set up at the King Salman Shipbuilding Complex near Jubail area in eastern Saudi Arabia with an EPC cost of $850m. It is expected to be commercially operational in the first quarter of 2025.
The factory will manufacture casted and forged materials used for pumps and valves for the oil and gas sector, petrochemical plants and equipment for shipbuilding, and offshore plants in Saudi Arabia, said a spokesman from Doosan Heavy.
Equipped with integrated production lines, including steel making, casting and forging and processing, the new Tuwaiq plant will come up on a 400,000 sq m area.
Speaking at the groundbreaking, Ras Al Khair Industrial Park CEO, Ahmed bin Mohammed Hassan, said: “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.”