ArcelorMittal Tubular Products Jubail has secured full financial backing from leading commercial banks in Saudi Arabia for its heat treatment and advanced premium OCTG finishing line expansion.
The expansion will add 200,000 tons of heat treatment capacity and 150,000 tons of advanced premium OCTG threading capacity, enabling the production of high-spec seamless carbon steel tubes tailored for the demanding standards of Saudi Arabia’s and the broader MENA+ energy markets. This development strengthens domestic supply chains, supports the Kingdom’s growing unconventional gas sector, and advances industrial self-sufficiency.
The financing reflects strong confidence from top-tier financial institutions in the company’s strategy, leadership, and alignment with Vision 2030. It also marks a shared commitment to localization, industrial excellence, and sustainable economic value creation within the Kingdom, the company said.
Supported by the Saudi Public Investment Fund (PIF) and ArcelorMittal, the world’s leading steel and mining group, ArcelorMittal Tubular Products Jubail is a key producer of Oil Country Tubular Goods (OCTG). Following the acquisition of Jubail Energy Services Company (JESCO) in 2021, the company now operates two advanced mills in Jubail Industrial City with a combined annual capacity of 1 mln tons.