Omani steel manufacturer Jindal Shadeed Iron & Steel LLC announced that it will supply materials to ArcelorMittal Tubular Products Jubail, a joint venture between ArcelorMittal and the Saudi Public Investment Fund (PIF).

The two parties have signed a two-year cooperation agreement with a total purchase amount of up to US$1 billion. 

The cooperation will see Jindal Shadeed provide round steel bars for ArcelorMittal Tubular Products Jubail's seamless tube operations. 

Jindal Shadeed said that this agreement will help them create resilient supply chains and promote sustainable industrial growth throughout the region.