Taqat signs scrap supply contract with Alfanar

Saudi Arabia's Taqat Mineral Trading Co. has signed a three-month contract with Alfanar Company to purchase light and heavy ferrous scrap and empty metal drums, covering the period from October 20, 2026, to January 19, 2027.

Taqat said in a Saudi Exchange filing that the agreement is expected to have a positive financial impact by supporting sales continuity and revenue stability. The contract may be renewed for additional periods of equal duration subject to written agreement between the two parties.

Alfanar is a Riyadh-based industrial company with operations spanning electrical manufacturing, power and grid infrastructure, and engineering and construction. The company also operates in renewable energy and other industrial sectors.

Established in 2017 and headquartered in Riyadh, Taqat Mineral Trading Co. is listed on the Saudi Exchange's Parallel Market (Nomu). The company operates in metal recycling and trading, including the collection and processing of ferrous and non-ferrous scrap.