A Memorandum of Understanding (MoU) was signed between Steel Steel Company and the National Industrial Development Center to cooperate in the production of special bar quality (SBQ) and round steel billets, in line with the objectives of Saudi Arabia’s Vision 2030, which aims to localize industry and create new job opportunities.
The MoU aimed to establish a general framework for collaboration between the two parties in the production of special bar quality (SBQ) and round steel billets, with Steel Steel Company responsible for developing and operating production processes, while the National Industrial Development Center focused on enhancing knowledge and technology, as well as improving the efficiency of local production and supply chains.
The agreement covered several areas of cooperation, including coordination of regulatory requirements, exchange of technical expertise, and exploring integration opportunities in production processes, in addition to launching initiatives that contributed to increasing localization rates and providing employment opportunities in steel-related activities.
In this context, Musfer Al-Hajri, Managing Director and CEO of Steel Steel Company, stated that the MoU represented an institutional framework for collaboration in the production of special steel and round steel billets according to international and local standards. It also contributed to industrial localization and job creation, in line with the objectives of Saudi Arabia’s Vision 2030.
