On September 7, Baosteel and Saudi Aramco, the world’s largest oil production company, jointly signed a memorandum of understanding online, and negotiated to cooperate in the construction of a world-class integrated heavy plate plant in Saudi Arabia. The feasibility study of the project and the content of the work to be jointly carried out by the two parties have reached an agreement.

          The project mainly includes the construction of an integrated heavy plate plant and related supporting facilities, and is positioned to produce high-end heavy plate products. Saudi Aramco, the leader of the Saudi partner of the project, is one of the world's largest oil producers and refining companies, as well as an important crude oil supplier in China and a strategic customer of Baosteel.

--steelhome