4 firms to build SR3.75bn pipes plant

Updated 17 June 2014
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4 firms to build SR3.75bn pipes plant

Four companies from four countries — Saudi Arabia, Germany, Czech and India — have formed an alliance to build a large plant for manufacturing seamless pipes in Ras Alkhair.
In the first stage of the project, however, the production capacity is expected to reach 600,000 tons of steel in which seamless pipes, iron, and iron alloy will be made
The plant, which is believed to be at the final stage of signing at contract, which is set for the beginning of 2015, will help manufacture industrial and construction equipment. The plant is claimed to be the first one in the Middle East to produce seamless pipes with diameters of 19 mm to 137 mm 4/3 to 5.50 inches.
Salama Al-Enizi, chairman of Gulf Tubing Company GTC and the owner and developer of the project, told a press conference in Alkhobar on Monday that the plant will generate 1,200 jobs, including 800 direct jobs for Saudi youth and 400 indirect jobs at the plant, which are expected to be available by summer 2017.
The plant is estimated to cost $1 billion (SR3.75 billion). The project will be financially managed by Alinma Investment.
Al-Enizi highlighted the training program plans that will extend for two years in different fields, including the plant's operation and maintenance, and metals and equipment engineering in both Germany and Czech.
He added that cooperation deals have been reached in advance with Saudi Aramco and Saudi Basic Industries Corporation (SABIC) as well as the Royal Commission in Jubail and Yanbu to supply these companies certain products produced in the plant.
He also pointed out that the plant will manufacture drill pipes, oil and gas well covers, pipeline steam boilers, heat exchangers, petroleum furnaces, construction pipelines, mechanical equipment and small pipelines.


Spotify loses access to major Indian label

Updated 8 min 13 sec ago
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Spotify loses access to major Indian label

  • Saregama India Ltd. filed a petition with the Delhi High Court seeking an injunction against Spotify to stop it from using its songs
  • The move comes two months after Spotify launched in India, a price sensitive market already crowded by well-funded local players

BENGALURU: Music streaming service Spotify Technology SA said it will remove all songs belonging to one of India’s oldest record labels from its app after they failed to agree on licensing terms, months after the Swedish company’s launch in the country.
According to a court document, Saregama India Ltd. filed a petition with the Delhi High Court seeking an injunction against Spotify to stop it from using its songs.
The move comes two months after Spotify launched in India, a price sensitive market already crowded by well-funded local players like JioSaavn and Apple Music.
According to the court document dated April 23, Spotify’s senior counsel said the streaming service would remove all Saregama songs from its app within 10 days. Spotify said last month it had more than 1 million unique users in India across its free and premium categories within a week of its launch. The company offers a free version supported by ads and a premium ad-free variant that charges users 119 rupees ($1.68) per month.
Spotify declined to comment, while Saregama did not immediately respond to a Reuters request for comment.