Saudi unveils new iron and steel projects worth SAR35 bn

The complex intends to serve the automotive, food packaging, household appliances, and water transportation pipe sectors….reports Asian Lite News

Bandar Al Khorayef, Saudi Minister of Industry and Mineral Resources, announced three projects are being constructed in the iron and steel sector with a combined production capacity of 6.2 million tonnes and a value of around SAR 35 billion, Saudi News Agency (SPA) reported.

The construction of an integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects, with the complex focusing on shipbuilding, oil pipes and platforms, and enormous oil reservoirs.

During his inaugural speech at the Saudi International Iron and Steel Conference, Al Khorayef said that another project is being negotiated with international investors, adding that the project entails building an integrated iron surface production complex with an annual capacity of four million tonnes of hot rolled iron and one million tonnes of cold rolled iron, as well as 200,000 tonnes of tin-plated iron and other products.

The complex intends to serve the automotive, food packaging, household appliances, and water transportation pipe sectors. Additionally, a factory will be established to produce circular iron blocks with an estimated production capacity of one million tonnes per year, which will be the main introduction to the oil and gas industry’s unwelded iron pipes.

In July, Saudi Arabian Crown Prince Mohammed bin Salman bin Abdulaziz unveiled the design of ‘THE LINE’, a city to promote a green lifestyle confronting environmental crises.

The city is a civilisational revolution that puts humans first, providing an unprecedented urban living experience while preserving the surrounding nature, he said.

The design embodies how urban communities will be in the future free from roads, cars and emissions, reports Xinhua news agency.

Residents will have access to all facilities within a five-minute walk, in addition to a high-speed rail with an end-to-end transit of 20 minutes, according to the design.

It will run on 100 per cent renewable energy, puts nature ahead of development and will contribute to preserving 95 per cent of the land, the design showed.

THE LINE will eventually accommodate 9 million residents and will be built on a footprint of 34 square km.

ALSO READ: Jaishankar lauds India-Saudi Arabia ties

Leave a Reply

Your email address will not be published.