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Saudi Iron & Steel Company (Hadeed)is gearing up to award two major expansion contracts worth about $500 million on Hadeed’s flat products facility in Jubail by the end of October. Two companies are in the race for the contract to raise capacity at Hadeed’s direct reduction iron (DRI) plant to 1.5 million tonnes a year (t/y). The bidders are Germany’s Ferrostaal, which is offering the HYL DRI process from Mexico’s Hylsa, and Austria’s Voest Alpine Industrieanlagenbau (VAI), which is proposing technology from the US’ Midrex.