Saudi Arabia announces 3 new projects in the iron and steel sector worth 35 billion riyals

Today, Monday, the Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, announced three new projects in the Saudi iron and steel sector worth 35 billion riyals.

During the second Saudi International Iron and Steel Conference, the minister said that the production capacity of new projects in Saudi Arabia is 6.2 million tonnes of iron and steel.

The minister added that Saudi Arabia aims to reduce iron and steel imports by half.

The projects include an integrated complex establishment for iron sheets production, with a production capacity of 1.2 million tonnes.

The Complex aims to build ships, pipelines, oilrigs and massive oil tanks.

The announced projects included a factory establishment for circular iron block production with a capacity of one million tons annually.

The minister added, “We are working with several international investors to establish an integrated complex for the production of flat iron, with an annual production capacity of 4 million tons of hot rolled iron and one million tons of cold rolled iron”.

He pointed out that this sector aims to serve the automobile industry, food packaging, home appliances and water pipes.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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