**Título**:
Saudi JV Launches Major Casting Facility

**Intro**:
Saudi Arabia’s Dussur, Aramco, and South Korea’s Doosan Heavy Industries have formed Tuwaiq Casting & Forging Company, a joint venture to build a $1.4 billion facility in Ras Al Khair. Slated for 2025, the plant will produce 60,000 tons annually of industrial components, supporting oil/gas, marine, defense, and automotive sectors under Vision 2030.

**Factbox**:
– **Location**: Ras Al Khair, Saudi Arabia
– **Capacity**: 60,000 tons/year
– **Operations Start**: Q1 2025
– **Jobs**: 1,400 direct roles
– **Focus**: Oil/gas, marine, defense
– **Partners**: Dussur, Aramco, Doosan Heavy

*(50 words)*

**Saudi Arabia Unveils Landmark Industrial Venture: Tuwaiq Casting & Forging Company to Boost Local Manufacturing**
*Ras Al Khair, Saudi Arabia –* In a strategic move to accelerate industrial diversification and localize critical supply chains, Saudi Arabia’s Dussur, Saudi Aramco, and South Korea’s Doosan Heavy Industries have launched **Tuwaiq Casting & Forging Company**, a joint venture set to establish a cutting-edge manufacturing facility in Ras Al Khair. Slated for commercial operations by Q1 2025, the project underscores Saudi Vision 2030’s goals of economic transformation and technological self-reliance.

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### **A Catalyst for Industrial Localization**
The $60,000-ton-capacity facility will specialize in **sand casting** and **open-die forging** processes, integrating melting, casting, forging, and machining under one roof. This vertical integration positions Tuwaiq as a regional powerhouse, producing high-quality components for:
– **Oil & Gas**: Drilling rigs, wellheads, compressors, and valves.
– **Marine & Energy**: Ship engines, heat exchangers, and gas turbines.
– **Automotive & Defense**: Precision parts for vehicles and military equipment.
– **Renewable Energy**: Components for wind turbines and future green technologies.

The facility aims to replace imports and supply OEMs and local manufacturers, reducing reliance on foreign suppliers while boosting Saudi Arabia’s export potential across GCC markets.

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### **Vision 2030 in Action**
Aligned with Saudi Arabia’s national diversification agenda, the project will:
– Create **1,400 direct jobs**, prioritizing skills transfer and youth empowerment.
– Localize expertise in advanced fabrication, supported by Doosan’s global technical know-how.
– Strengthen sectors critical to the Kingdom’s economy, including energy, defense, and renewables.
– Attract foreign investment by establishing Ras Al Khair as a hub for industrial innovation.

Dr. Raed Al-Rayes, CEO of Dussur, emphasized, *“This facility is a cornerstone for industrial value chains. By localizing production of critical components, we secure supply chain resilience and empower sectors vital to Vision 2030.”*

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### **Leadership Perspectives**
**Waleed Al-Saif**, Aramco’s Executive Director of New Business Development, highlighted the venture’s role in enhancing local content:
*“OEMs can now source cast and forged parts domestically, driving cost efficiency and compliance with localization mandates. This project is a leap toward self-sufficiency in energy and industrial sectors.”*

**Geewon Park**, CEO of Doosan Heavy Industries, noted the venture’s strategic expansion:
*“Beyond serving Saudi industries, this facility is a gateway for Doosan to deploy forging expertise in renewables and emerging sectors, aligning with global energy transitions.”*

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### **Economic and Strategic Impact**
Located on Saudi Arabia’s east coast, Ras Al Khair’s industrial ecosystem will benefit from:
– **Technology Transfer**: Doosan’s advanced manufacturing processes.
– **Export Growth**: Targeting GCC and global markets post-local demand fulfillment.
– **Safety & Sustainability**: High-efficiency production adhering to international standards.

The project has garnered support from Saudi leadership, including HRH Crown Prince Mohammed bin Salman, and key ministries, reflecting its national priority.

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### **Looking Ahead**
As Tuwaiq Casting & Forging Company gears up for its 2025 launch, it symbolizes Saudi Arabia’s industrial ambition—transforming from an importer to a global competitor in high-tech manufacturing. By bridging gaps in the supply chain and fostering innovation, the venture promises to reshape the Kingdom’s economic landscape for decades to come.

*Stay tuned for updates on this transformative journey toward industrial sovereignty.*

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**Tags**: #SaudiVision2030 #IndustrialGrowth #Localization #EnergySector #Manufacturing #RasAlKhair #EconomicDiversification
**Categories**: Economy, Industry, Technology, Saudi Arabia

**15 FAQs on the Tuwaiq Casting & Forging Company Joint Venture**

1. **What is the purpose of the Tuwaiq Casting & Forging Company joint venture?**
The JV aims to construct and operate an integrated facility in Ras Al Khair to localize industrial supply chains, reduce imports, and serve sectors like oil and gas, defense, and automotive under Saudi Vision 2030.

2. **Which companies are involved in establishing the facility in Ras Al Khair?**
The JV partners are Saudi Arabia’s Dussur and Aramco, alongside South Korea’s Doosan Heavy Industries & Construction, leveraging their expertise in casting, forging, and industrial development.

3. **What is the annual production capacity of the new facility?**
The facility will produce 60,000 tons annually of cast and forged components, including valves, pumps, compressors, turbines, and marine equipment for OEMs and local manufacturers.

4. **Which industries will the Ras Al Khair facility primarily serve?**
It will supply oil and gas, marine services, automotive, defense, and energy sectors, with products like drilling equipment, engines, heat exchangers, and wind energy components.

5. **How does the project align with Saudi Arabia’s Vision 2030 goals?**
It supports industrialization, job creation, technology transfer, and local content growth by reducing reliance on imports and strengthening domestic manufacturing capabilities.

6. **How many direct jobs are expected to be created by the facility?**
The project will generate approximately 1,400 direct jobs, focusing on technical roles to build local expertise in advanced casting and forging disciplines.

7. **What technologies or expertise will Doosan transfer to the joint venture?**
Doosan will contribute sand casting, open-die forging, and machining technologies, along with operational know-how to enhance Saudi Arabia’s industrial capabilities.

8. **When is the facility expected to begin commercial operations?**
Commercial operations are projected to start by the first quarter of 2025, following the completion of construction and operational setup.

9. **What safety and efficiency standards will the facility implement?**
The facility will adhere to world-class safety protocols and high-efficiency processes to ensure quality production while minimizing environmental and operational risks.

10. **Will the facility’s products be limited to Saudi Arabia or exported regionally?**
Initially targeting local demand, the JV plans to expand exports to GCC markets, supporting regional industrial growth and diversification.

11. **What role does Saudi Aramco play in the joint venture?**
Aramco will drive demand for components, enable OEM localization, and integrate the facility’s output into its energy supply chains to boost local content.

12. **How will the facility enhance local content in Saudi industries?**
By producing critical components domestically, it reduces import dependency, lowers costs for manufacturers, and strengthens Saudi Arabia’s industrial self-sufficiency.

13. **What types of components will the facility produce for OEMs and local manufacturers?**
Products include semi-finished and finished parts like wellheads, pipe flanges, gas turbines, compressors, and machinery for drilling, marine, and renewable energy sectors.

14. **How does the joint venture plan to support renewable energy initiatives?**
Doosan’s expertise will help expand into renewable energy components, positioning the facility as a future hub for wind and other sustainable energy projects.

15. **Which government entities supported the establishment of this project?**
The project received backing from Saudi leadership, including HRH Crown Prince Mohammed bin Salman, the Ministry of Energy, Investment and Industry, and the Committee for Industry.

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**Conclusión:**
La creación de Tuwaiq Casting & Forging Company marca un hito clave en el camino de Arabia Saudita hacia la autosuficiencia industrial y la diversificación económica bajo la Visión 2030. Al combinar tecnología de vanguardia, transferencia de conocimiento y colaboración internacional, este proyecto no solo cubrirá la demanda local de componentes críticos, sino que también posicionará al Reino como un centro industrial regional. Con la generación de empleos, el fortalecimiento de cadenas de suministro y el impulso a sectores estratégicos como energía, defensa y energías renovables, esta iniciativa refleja el compromiso del Reino con la innovación, la sostenibilidad y el crecimiento económico inclusivo.

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**Agradecimiento:**
Agradecemos a las entidades gubernamentales, lideradas por Su Alteza Real el Príncipe Heredero Mohammed bin Salman, y al Ministerio de Energía, Inversión e Industria por su apoyo fundamental en la materialización de este proyecto. También extendemos nuestro reconocimiento a Dussur, Saudi Aramco y Doosan Heavy Industries por su visión colaborativa, así como a todos los actores involucrados que trabajan para convertir a Arabia Saudita en un referente industrial global. ¡El futuro se construye hoy!

*#Visión2030 #DesarrolloIndustrial #Innovación #ArabiaSaudita*

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