Sabic Says Its Steel Production Capacity to Rise 50% This Year

Apr 9, 2012 -- Saudi Basic Industries Corp. (SABIC) said its steel production capacity will grow by 50 percent this year to 6 million metric tons a year when it completes building a new plant in Jubail.

The company, the world’s largest petrochemical maker known as Sabic, said in its annual report that the new plant is set to start operations in the second half of this year.