SR1.6 billion titanium sponge factory on way

Updated 30 April 2015
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SR1.6 billion titanium sponge factory on way

The Royal Commission in Yanbu (RCY) has signed a lease for an industrial land to establish a factory for titanium sponge production with an estimated cost of SR1.6 billion.
The contract was signed by Alaa bin Abdullah Nassif, CEO of the Royal Commission in Yanbu, with the Advanced Metal Industries Complex Ltd., a subsidiary company of Saudi Arabia’s National Industrialization Co. (Tasnee).
The company, under the scope of the contract, will also expand the current plant using high-pressure oxidation line technology for the production of titanium dioxide at a cost of SR1.35 billion.
It is expected that the two projects will be completed and start production by 2017.
The construction will be next to the current crystal factory in Yanbu Industrial City.
The total production of the two projects is likely to reach 15,600 metric tons per year of titanium sponge that goes into many high-tech industries, including all types of aircraft components, along with 120 thousand tons per year of dioxide titanium.
Tasnee has also signed a participation agreement for the establishment of a project for the production of titanium sponge with Toho Japanese Company.
The company said that the project will be established in Crystal Complex in Yanbu, with 32.5 percent of the project’s ownership for each of the manufacturing company and Crystal company (belonging to Tasnee), and 35 percent for Toho company.


US intelligence says Huawei funded by Chinese state security: report

Updated 20 April 2019
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US intelligence says Huawei funded by Chinese state security: report

  • The accusation comes at a time of trade tensions between Washington and Beijing
  • Huawei dismissed the allegations

US intelligence has accused Huawei Technologies of being funded by Chinese state security, The Times said on Saturday, adding to the list of allegations faced by the Chinese technology company in the West.
The CIA accused Huawei of receiving funding from China’s National Security Commission, the People’s Liberation Army and a third branch of the Chinese state intelligence network, the British newspaper reported, citing a source.
Earlier this year, US intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report.
Huawei dismissed the allegations in a statement cited by the newspaper.
“Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources,” a Huawei representative told The Times.
The company, the CIA and Chinese state security agencies did not respond immediately to requests for comment.
The accusation comes at a time of trade tensions between Washington and Beijing and amid concerns in the United States that Huawei’s equipment could be used for espionage. The company has said the concerns are unfounded.
Authorities in the United States are probing Huawei for alleged sanctions violations.
Meng Wanzhou, Huawei’s chief financial officer and daughter of its founder, Ren Zhengfei, was arrested in Canada in December at the request of the United States on charges of bank and wire fraud in violation of US sanctions against Iran.
She denies wrongdoing and her father has previously said the arrest was “politically motivated.”
Amid such charges, top educational institutions in the West have recently severed ties with Huawei to avoid losing federal funding.
Another Chinese technology company, ZTE Corp. , has also been at the center of similar controversies in the United States.
US sanctions forced ZTE to stop most business between April and July last year after Commerce Department officials said it broke a pact and was caught illegally shipping US-origin goods to Iran and North Korea. The sanctions were lifted after ZTE paid $1.4 billion in penalties.
Reuters reported earlier this week that the United States will push its allies at a meeting in Prague next month to adopt shared security and policy measures that will make it more difficult for Huawei to dominate 5G telecommunications networks.