Saudi Aramco to Establish Center for Date Products in Al-Ahsa

 Saudi Aramco to Establish Center for Date Products in Al-Ahsa
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Saudi Aramco to Establish Center for Date Products in Al-Ahsa

 Saudi Aramco to Establish Center for Date Products in Al-Ahsa

Saudi Aramco announced establishing a date products center in Al-Ahsa Governorate.

The center will embrace up to 100 beneficiaries, where people with low incomes and special needs in the province will benefit from this center.

Aramco signed a Memorandum of Understanding (MoU) with the Petroleum and Natural Gas Higher Institute of Technology and Training and the Al-Ayoun Charitable Society for Social Services to establish the center.

Saudi Aramco Vice President, Nabeel Al-Jama’, said that "this initiative is part of Saudi Aramco’s objectives to contribute to empowering the community through a series of community-based programs to support people in dire need to enable them to support themselves and their families. It also serves an estimated segment of the people of the province of Al-Ahsa by supplying jobs that provide them with sustainable financial income."

He added “the agreement will promote sustainability, citizenship and local added value and the company will continue to provide development projects that contribute to increasing GDP in partnership with private and government institutions.”

He also said the agreement will preserve natural resources and benefit from the competitive advantages of the Kingdom’s regions, inorder to develop them to benefit future generations.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.