Saudi Arabia has announced three new iron and steel projects worth SAR35 billion ($9 billion)Â with a combined production capacity of 6.2 million tonnes, Saudi Press Agency reported.Â
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.
Saudi Minister of Industry and Mineral Resources Bandar Al Khorayef who announced the new projects during his inaugural speech at the Saudi International Iron and Steel Conference, said that another project that entails building an integrated iron surface production complex is being negotiated with international investors. It will have 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 will serve the automotive, food packaging, household appliances, and water transportation pipe sectors. ‘
A factory will also 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.