Saudi Arabia plans to build three projects in the steel industry with a combined capacity of 6.2 million tons. The total value of the projects is estimated at $9.31 billion. Bandar Kholayev, Saudi Minister of Industry and Mineral Resources, said one of the projects is an integrated tin production complex with an annual capacity of 1.2 million tons. Once completed, it will support the shipbuilding, oil platform and reservoir manufacturing sectors.
Bandar Al Khorayef, the Saudi minister of industry and mineral resources, said on Monday that the projects would have a combined capacity of 6.2 million tons.
One of the projects will be an integrated steel plate production complex with an annual capacity of 1.2 million tons, focusing on shipbuilding, oil pipelines and platforms, and huge oil reservoirs.
The second project, which is currently in negotiations with international investors, will be an integrated steel surface production complex with an annual capacity of 4 million tons of hot rolled iron, 1 million tons of cold rolled iron and 200,000 tons of tin plating iron and other products.
The complex is planned to serve the automotive, food packaging, household appliances and water plumbing industries, the agency said.
A third plant will be built to produce round iron blocks with an estimated annual capacity of 1m tonnes to support non-welded iron pipes in the oil and gas industry.