ArcelorMittal Tubular Products Al-Jubail (ArcelorMittal TPJ) and Jubail Energy Services Company (JESCO) have closed a USD 1.4 bln strategic financing package to support their major heat treatment and advanced premium OCTG finishing line expansion.
The project, considered nationally and industrially significant, will boost Saudi Arabia’s energy and industrial leadership by adding 200,000 tons of heat treatment and 150,000 tons of premium OCTG threading capacity. Once complete, it will strengthen ArcelorMittal TPJ’s ability to supply high-spec seamless carbon steel tubes to Saudi Arabia and wider MENA+ markets.
Earlier this year, ArcelorMittal TPJ awarded the EPC contract to Sinosteel Equipment & Engineering Co. Ltd., with Tenova S.p.A. providing advanced finishing technology. Groundbreaking is scheduled for December 2025.
Backed by the Saudi Public Investment Fund and ArcelorMittal, ArcelorMittal TPJ has emerged as a major OCTG producer in the region. Since acquiring JESCO in 2021, it operates two state-of-the-art mills in Jubail Industrial City with a combined annual capacity of 1 mln tons.
