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ArcelorMittal to Start Saudi Steel Mill Next Year, Watan Says

The Saudi unit of ArcelorMittal (MT), the world’s largest steelmaker, expects to start producing in the first half of 2012 at its new mill at Jubail in eastern Saudi Arabia, al-Watan reported.

The $700-million plant will produce 600,000 metric tons of pipes a year for the oil and petrochemical industry, the Abha- based newspaper reported, citing Mohammed al-Jabr, ArcelorMittal’s managing director in Saudi Arabia. Al-Jabr was formerly the vice president of Saudi Basic Industries Corp.’s steel unit, according to the report.

The company plans to invest up to $3 billion in Saudi steel projects over the next five years and is conducting studies to build a factory north of Jubail at Ras al-Khair, where the government is forming a mining hub, al-Jabr told the newspaper.

To contact the reporter on this story: Wael Mahdi in Khobar wmahdi@bloomberg.net.

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net.

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