By Mohammed Abu Meleeh

Riyadh-Mubasher: National Industrialization Co. (Tasnee) has chosen Taiwan's CTCI and Japan's Chiyoda Corp to build a titanium sponge plant for its subsidiary Cristal, Tasnee said in a bourse filing.

Construction work on the plant is likely to be finished in the first half of 2017, with trial and commercial operations due in the third quarter of the same year.

The plant, to be built in Yanbu at an estimated cost of $290 million (SAR 1.87 billion), will operate with an annual capacity of 15,600 tonnes.

Tasnee and Cristal each have a 32.5% stake in the project, while Toho Titanium has 35%. 

Translated by Abdul Maguid Aboshahla