RIYADH, 22 September 2003 — The Indian Ministry of Trade has acquitted the Saudi Iron and Steel Company (Hadeed), a SABIC-affiliate, of a dumping charge brought against it by the Indian Steel Federation.

The ministry’s anti-dumping department ruled that Hadeed’s products were not harming the local Indian industry and therefore did not attract any charge under the anti-dumping regulations, according to a report published in Eqtisadiah, a sister publication of Arab News.

The legal department of the Saudi Basic Industries Corporation (SABIC) in Riyadh and Hadeed in Jubail were not available for comment.

Earlier, a Canadian court acquitted Hadeed of charges filed against it by some plaintiffs in Canada.

Hadeed, a subsidiary of SABIC, manufactures flat, hot and cold rolled steel for the burgeoning Saudi and regional engineering and manufacturing industries. It is one of 18 industrial complexes of SABIC operated by its 16 affiliates. Ninety percent of Hadeed’s production is consumed locally.