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.