Voest-Alpine Industries of the UK, part of the Austrian Voest Alpine Industrieanlagenbau (VAI) group, has signed a letter of intent (LoI) with Kuwait-based Gulf Investment Corporation to construct a cold-rolling steel mill at Mussafah in Abu Dhabi. 'We are working on the LoI and hope to sign a final agreement soon,' says a project source.
Estimated to cost $180 million, the proposed plant will have a capacity to produce 90,000 tonnes a year of various grades of stainless steel. It will take about two years to build.
A team led by the UK office of VAI, and including VAI Clecim of France and Linz-based VAI, will carry out the construction of the project on a turnkey basis.