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MILAN, Nov 16 (Reuters) - Italian foundry equipment maker Danieli SpA said on Monday the steel plant contract it signed with Saudi Basic Industries Corp (SABIC) is worth $630 million. In a statement on Sunday, SABIC said it signed a deal with the Italian group for the construction of a steel plant in Saudi Arabia. It did not disclose the deal's value. Construction of the plant, which will have a production capacity for steel billets of 1 million tonnes per year, will start in the second half of 2010. (Reporting by Danilo Masoni; Editing by Hans Peters) Keywords: DANIELI/SAUDI (danilo.masoni@thomsonreuters.com; +39 02 661 29 734; Reuters Messaging: danilo.masoni.thomsonreuters@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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