Italians to build Jeddah steel plant

DANIELI WINS SAUDI STEEL DEAL. Saudi-based Al-Rajhi Steel has awarded Italian foundry equipment maker Danieli an SR800m ($213.3m) contract to build a steel plant in Jeddah, Saudi Arabia. Under the agreement, Danieli will build a one million tonne per year steel rebar plant. It will take 22 months to build and start production in November 2011.