THREE NEW IRON AND STEEL PROJECTS WORTH SAR35 BILLION IN THE PIPEPLINE

Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al Khorayef, has recently disclosed that three iron and steel projects with a combined production capacity of 6.2 million tons and an estimated cost of SAR 35 billion are now under construction.

The development of an integrated iron sheet production complex with a 1.2 million tons annual capacity, focusing on shipbuilding, oil pipes and platforms, and massive oil reservoirs, is one of these three projects.

Al Khorayef announced during his opening address at the Saudi International Iron and Steel Conference that a new project is currently being discussed with foreign investors. The project calls for the construction of an integrated iron surface production complex with an annual capacity of four million tons of hot rolled iron, one million tons of cold rolled iron, as well as 200,000 tons of tin-plated iron and other products.

The new projects are initiated with the aim to provide services to the automobile, food packaging, home appliance, and water pipe industries. Additionally, a factory will be built to create circular iron blocks, which will serve as the primary introduction for un-welded iron pipes used in the oil and gas industry. This plant is expected to have an annual production capacity of one million tons.

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