September 13, 2022
2 mins read

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

Previous Story

Imran flips on army chief’s tenure

Next Story

Hamdan launches integrated housing plan

Latest from -Top News

Zero Tariffs? Trump Claims Big Win Over India

Trump Claims India to Eliminate Tariffs on U.S. Imports..reports Asian Lite News U.S. President Donald Trump announced on Tuesday that India has either already removed or is in the process of removing

Khaleda Zia Returns to Bangladesh

As Khaleda Zia travelled to her Gulshan residence from the airport, hundreds of party workers lined the streets to welcome her return…reports Asian Lite News BNP Chairperson Khaleda Zia Returns to Dhaka

UNSC Grills Pakistan Over Pahalgam Attack

Though Pakistan claimed that the meeting largely served and achieved the objectives of the UNSC’s meeting, reports showed that it flopped miserably…reports Asian Lite News The United Nations Security Council (UNSC) reportedly
Go toTop

Don't Miss

Raisina Dialogue: Jaishankar meets Saudi, Egypt, Sweden counterparts

The Raisina Dialogue is the flagship think-tank event organised by

Saudi Arabia shocks Messi’s Argentina with 2-1 win

The Argentines also had three goals ruled out for offside