A Malaysian company has signed a joint venture with a Saudi firm to build a plant in Dammam for the manufacture of carbon steel fittings. The SR15-million plant is likely to be set up within a year. It will produce carbon steel pipe and fitting products. The agreement between Pantech and Saudi Arabia's Abdul Rahman Al-Otaishan Trading Group was signed on Monday in Kuala Lumpur in the presence of Malaysian Deputy Finance Minister Wira Chor Chee Heung. "We are looking forward to exciting business opportunities coming from Saudi Arabia and the surrounding region. Once the plant is ready for operation, the second phase may start, probably in one to two years' time," Adrian Tan, executive director of Pantech Group Holdings Bhd, told a press conference. --MORE
