Doosan Heavy Industries Signs Contract to Build Saudi Arabia's Largest Forging and Casting Plant Worth 1 Trillion KRW

Annual Production of 60,000 Tons... Manufacturing Pumps for Petrochemical Plants and More

Aerial view of the Saudi Arabia Twaiq Steel Plant (Provided by Doosan Heavy Industries) [Image source=Yonhap News]

[Asia Economy Reporter Lee Hyeyoung] Doosan Heavy Industries & Construction announced on the 11th that it has signed an engineering, procurement, and construction (EPC) contract worth 1 trillion KRW for a casting and forging plant with Tweike, a joint venture company specializing in casting and forging in Saudi Arabia.

Tweike is a joint venture established last month by Doosan Heavy Industries & Construction, Saudi Industrial Investment Company Dussur, and Saudi Aramco Development Company, a wholly owned subsidiary of Saudi Aramco.

Under this contract, Doosan Heavy Industries & Construction plans to build Saudi Arabia's largest casting and forging plant with an annual production capacity of 60,000 tons on a 400,000㎡ site near Jubail in the King Salman Shipbuilding Industrial Complex in eastern Saudi Arabia.

Casting refers to heating and melting metal and pouring it into molds to create metal products of specific shapes, while forging means heating metal materials to a certain temperature and applying pressure to form specific shapes.

The main products to be produced are casting and forging materials required for pumps and valves used in petrochemical plants in Saudi Arabia, as well as equipment for shipbuilding and offshore plants. In the long term, production will expand to casting and forging products for wind power plants and power plants.

The plant construction will begin this year and is scheduled to be completed in the first quarter of 2025.

Park Inwon, Head of Plant EPC BG at Doosan Heavy Industries & Construction, said, "It is significant to be entrusted with building Saudi Arabia's largest casting and forging plant based on over 40 years of accumulated casting and forging technology and EPC execution capabilities," adding, "We also plan to actively support the overseas expansion of domestic small and medium-sized enterprises for plant construction and major equipment supply."

According to global market research firm Frost & Sullivan, the casting and forging materials market in the Gulf Cooperation Council (GCC) region, centered on Saudi Arabia and the United Arab Emirates (UAE), is expected to expand to about 2 trillion KRW (1.8 billion USD) annually by 2028.

This content was produced with the assistance of AI translation services.