Rukam Industrial recycles 6,000 tons of iron slag daily to produce iron ore, eyes expansion in Saudi Arabia: CEO
arqaam 2022 / 09 / 15 Rukam Industrial Co. operates a plant with an estimated cost of nearly SAR 45 million. It will recycle nearly 6,000 tons of iron slag on a daily basis, from which it extracts almost 600 kilograms of iron ore, CEO Rabie Azzuz told Argaam in an exclusive interview. The remaining amounts are allocated for production of industrial concrete of different sizes, to be used in pavements, ready-mix concrete, etc. The production of every ton of iron produces 300 kilograms of iron slag, which is harmful to environment.
Sabayek eyes Nomu listing, sells 40% of output locally: exec
arqaam 2022 / 09 / 19 Gulf Ferro Alloys Co. (Sabayek) seeks to list its shares on the Nomu - Parallel Market, General Manager Qusay Al Khalili told Argaam in an exclusive The company is currently developing its internal procedures and governance and preparing the offering’s regulatory requirements, Al Khalili said, adding that the company will likely go public by 2024 “We are producing 130,000 tons per annum (tpa) of ferroalloys, fulfilling demand for ferroalloys locally and in the GCC countries,” Al Khalili noted
Watania Steel eyes Tadawul listing after capacity ramp up; demand, price surge likely in Q4 2022
arqaam 2022 / 09 / 19 Watania Steel Co. is planning to list its shares on Saudi Arabia's main market by 2024 after expanding its production capacity, according to company Co-Founder and Managing Partner Jamil Alsaffaf. The company recently announced the launch of a new production line to double output to 750,000 tons per annum (p.a.) of steel rebars and iron rolls, Alsaffaf told Argaam on the sidelines of the second Saudi International Iron & Steel Conference 2022 in Riyadh.
Egypt can serve as base for GCC car manufacturing investments: Ezz Steel CEO
arqaam 2022 / 09 / 13 Ahmed Ezz, CEO and Founder of Egypt-based Ezz Co., said that Saudi Arabia and Egypt are the largest iron and steel producers in the Arab world and are going through major economic changes. He underlined the importance of aligning iron consumption with economic growth in light of the mega investments and projects in both countries He also affirmed that Egypt can serve as an “industrial base” for GCC investments in the car manufacturing sector, leveraging the GCC iron.
Saudi Aramco works on producing iron, steel to make pipes, tanks: exec
arqaam 2022 / 09 / 13 Saudi Aramco is working as a partner to produce iron and steel, which is used for manufacturing pipes, tanks and vehicles, despite being an oil and gas producer. The localization of iron products is a key objective in the company’s strategy, Fahad Al Abdul Kareem, Vice President of Industrial Services, said during a panel at the Saudi International Iron & Steel Conference (SIIS) in Riyadh. Under Vision 2030, Saudi Arabia aims to be a regional hub for many iron and steel products and it is on the right track to support the national iron industry.
NEOM to consume largest amount of iron, steel: CEO
arqaam 2022 / 09 / 15 Construction work has begun at NEOM project, CEO Nadhmi Al-Nasr said, adding that it is difficult, given that it is the "biggest ever" construction project in history. The construction of NEOM city will consume the largest amount of iron and steel, which gives iron and steel manufacturers worldwide a historical opportunity, Al-Nasr highlighted during his participation in the second Saudi International Iron & Steel Conference (SIIS) in Riyadh. NEOM will offer a better place for living on earth with the best urban planning and viability, he added.
Saudi Arabia to launch 3 projects worth SAR 35 bln in iron, steel sector
arqaam 2022 / 09 / 12 Bandar Alkhorayef, Minister of Industry and Mineral Resources, announced today, Sept. 12, Saudi Arabia’s national plan for restructuring the iron and steel industry. Through the National Industrial Development Center, the plan will be developed in coordination with global experts and in partnership with related government authorities and steel producers in the Kingdom, so as to ensure the sector’s sustainable growth.
Saudi iron sector starts to be profitable on rising demand: Al Mudaifer
arqaam 2022 / 09 / 12 Khalid Al Mudaifer, Vice-Minister for Mining Affairs, Ministry of Industry and Mineral Resources, said the Saudi iron sector has started to turn a profit from accumulated losses. The sector might swing to profit in 2023, driven by burgeoning demand for iron, Al Mudaifer told Argaam on the sidelines of the Second Saudi International Iron & Steel Conference (SIIS), which kicked off in Riyadh today.
Saudi Arabia plans to launch global initiative to attract supply chains, says Al-Falih
arqaam 2022 / 09 / 13 Saudi Arabia plans to launch an initiative to attract global supply chains, Minister of Investment Khalid Al-Falih said at the Saudi International Iron & Steel Conference 2022 (SIIS). The program will focus on enhancing the efficiency of global supply chains and their ability to recover by attracting foreign direct investment to the export-oriented products and services sectors, in which the Kingdom enjoys competitive advantages, the Saudi Press Agency reported.
SIIS 2022: Next decade to be time of Saudi Arabia, transformations irreversible
Metal Expert 2022 / 09 / 12 The innovative approach of Vision 2030 is gradually crystallizing in changes in one of the most traditional industries in Saudi Arabia, which is steel. The opening day of the 2nd Saudi International Iron and Steel Conference (SIIS) held on September 12-14 in the sunny and hospitable Riyadh gave a strong message about the irreversible transformations in the Kingdom.
SIIS: Saudi Arabia implements massive flat steel expansion
Metal Expert 2022 / 09 / 14 The versatile industry of Saudi Arabia with the hydrocarbon sector at its pinnacle requires value-added and niche flat steel products. Being focused on the implementation of Vision 2030 goals, the Kingdom has the ambition to substitute the import flow of these products with its own capacity.
SIIS: MENA steel consumption to grow in next five years
Metal Expert 2022 / 09 / 14 The continuing recovery of the economy after the pandemic crises has a direct impact on the steel demand in the MENA region. Planned megaprojects will stimulate construction activities and support the positive dynamics of steel consumption. However, the growth rate will not be enough for some countries in the region to fully load the existing capacities.
Egypt and KSA look to stronger business ties, including steel sector
Metal Expert 2022 / 09 / 20 Egypt and Saudi Arabia, which have common cultural aspects, have been talking about the expansion of business ties. Both are looking to integrating the industrial sectors, including steel segment. It might be a win-win situation.
SIIS: MENA steelmakers unable to benefit from demand growth without backward integration
Metal Expert 2022 / 09 / 21 Key GCC producers continue to take steps to maintain business efficiency and raise competitiveness, being supported by the higher income from the hydrocarbon sector. The upward integration of the production chain is one of the measures helping cope with high costs. Top CEOs exchanged their opinions and practical cases on how to overcome the issues during the session moderated by Metal Expert as part of the 2nd Saudi International Iron and Steel Conference (SIIS) held last week in Riyadh.
SIIS: Saudi Arabia to maintain cluster approach to unleash steel sector’s potential
Metal Expert 2022 / 09 / 23 Being focused for several years on the development of a cluster model for the local industrial sector, Saudi Arabia intends to use this approach further. The Kingdom’s steel sector is about to get more business opportunities for unleashing its potential owing to more efficient operations, import substitution, as well as stronger positions in the global market.
Strong economic fundamentals to support Saudi industrial and steel sector
Metal Expert 2022 / 10 / 05 Saudi Arabia is heading towards a new era of development, where a comprehensive approach to every sector of the economy will help enhance the sustainability of the Kingdom. These structural changes have a direct impact on the steel industry as the forecasted economic growth and financial success will contribute to the well-being of the industrial sector.