Saudi Iron and Steel Company (Hadeed) revealed strategic acquisitions and investments worth 25 billion riyals to support Saudi Vision 2030 projects, as part of the strategic announcement package for the International Mining Conference in Riyadh.
Hadeed also revealed, on the sidelines of the International Mining Conference in Riyadh, the company's plans to produce 10 million tons of iron annually.
The Company pointed out that "Hadeed" is currently focusing on horizontal and vertical expansion and growth worth up to 25 billion Saudi riyals, as it focuses on value-added products, especially steel, with up to 5 million tons, which is in line with the Kingdom's vision and strategies in the field of steel.
The Saudi Iron and Steel Company signed a memorandum of understanding with the Chinese company "Baosteel" and "Vale" on the sidelines of the International Mining Conference.
