Mill announcements, trade measures, statistics and market moves across the Middle East and the global steel trade.
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429 news items from Saudi Arabia. Show all
Molan Steel Co. announced the acquisition of Mayar International Industry for SAR 34.88 mln (USD 9.28 mln) in a deal financed through internal resources. According to a statement to Tadawul, the agreement involves…
Saudi Arabia's Knowledge Economic City (KEC) has awarded a USD 62 mln contract to Alfaneyah Electromechanical Company for the Hilton Hotel Tower and Branded Residences Tower within the KEC Hub project. Located in the…
Saudi Arabia's Al Yamamah Steel Industries Co. has reported a remarkable financial turnaround, transitioning from a loss of SAR 130.14 mln in FY24, which ended on September 30, 2024, to a profit of SAR 70.8 mln (USD…
Saudi Arabia's East Pipes Integrated Company for Industry has signed multiple supply contracts worth over SAR 57 mln (USD 15.1 mln), including VAT, with Saudi Real Estate Infrastructure Company (Binyah) and Al-Rashid…
Chinese group Shandong Electric Power Construction (Sepco) has announced that it has secured a contract for the construction of a 300MW photovoltaic power station located in Rabigh, Saudi Arabia. Early this month, a…
Saudi Arabia's Neom has entered a joint venture with Samsung C&T Corporation, supported by the Neom Investment Fund (NIF), to invest over SAR 1.3 bln (USD 345.7 mln) in construction robotics. The partnership focuses on…
Saudi Water Partnerships Company (SWPC) has announced that a consortium led by Saudi utility developer Acwa Power with key partners - Haji Abdullah Alireza & Partners Company and AlSharif Contracting and Commercial…
Riyadh Development Company (ARDCO) signed a strategic partnership with Agility Logistics Parks to develop a logistics complex in Al Remal District in Riyadh at the cost of USD 60.4 mln. The project covers an area of…
Watani Iron Steel Co. (Watani Steel) has renewed a Shariah-compliant bank facility agreement worth SAR 70.5 mln (USD 18.7 mln) with Bank Albilad, according to a stock exchange filing. The financing, backed by a…
Nigeria and Saudi Arabia have initiated discussions to develop Nigeria's iron ore and steel industry, according to Nigerian media reports. During the Resourcing Tomorrow event at the Mines and Money expo in London…
Al Yamamah Steel Industries won a steel towers supply order worth around USD 25 mln, the company announced in a stock exchange filing. The company said that it signed a contract to supply steel towers with National…
Riyadh Steel, Saudi Arabia's steel producer, announced in a stock exchange filing that its board of directors has accepted the resignation of CEO Ahmed bin Abdulkarim Al-Nafea. The filing also confirmed that Al-Nafea's…
Al-Babtain Power and Telecommunication Co. has announced the signing of a SAR 777 mln (USD 207 mln) contract with Hyundai Engineering & Construction Co., Ltd. to supply steel towers for a 500kV HVDC overhead…
Aramco has signed a shareholders' agreement with Linde and SLB to develop one of the world's largest Carbon Capture and Storage (CCS) hubs. Under the agreement, Aramco will hold a 60pct stake, with Linde and SLB each…
Naba Alsaha Medical Services Co. has awarded Siab Aluminum Factory a USD 2.73 mln contract (excluding VAT), according to a stock exchange filing. The contract involves the supply, installation, and testing of glass…
Public contracts awarded by Saudi Arabia jumped by nearly 47 pct in the first half of 2024 mainly due to a sharp rise in oil deals, according to an economic report. The value of the awarded contracts stood at around USD…
Saudi Iron and Steel Company (Hadeed) has revealed its updated long steel prices for December deliveries. The price of rebar (12-32 mm) will rise by SAR 50 (USD 13) per ton, bringing it to SAR 2,400 (USD 639) per ton…
Ajeej Steel Manufacturing Co., a subsidiary of National Building and Marketing Co., has renewed a Shariah-compliant credit facility agreement with Al Rajhi Bank valued at SAR 127 mln (USD 33.8 mln), the company…
Saudi Arabia's Retal Urban Development Company has signed a USD 30 mln contract with its subsidiary, Building Construction Company, to construct 60 residential units in the Al-Mohammedia district of Jeddah. The 30-month…
Saudi Arabia's National Housing Company has announced the launch of 11 key residential projects in Khuzam area of capital Riyadh featuring over 10,000 units - ranging from villas to apartments. The new projects include…
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