Sabic decides against bidding for the Egyptian Suez steel plant
Posted: 14 August 2006
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Further to earlier local newspaper reports implicating Saudi Arabian Basic Industries Corporation (SABIC) in a bidding competition to own the Suez Steel Factory in Egypt .
SABIC wishes to clarify that it had requested the respective memorandum of information pertaining to the Suez Steel Plant in order to study the economic feasibility of the project.
However, SABIC has decided against bidding in this project. SABIC has strategic plans in place to expand its iron and steel capabilities and will continue to explore other opportunities. |
