Saudi Arabia

The deal is expected to close by the end of the first quarter of 2024

The enterprise is planned to be commissioned by the end of 2026

The initial capital of the new company will be $50 million

The company signed a memorandum of understanding with the National Center for Industrial Development of Saudi Arabia

The project to be completed by the end of 2025

Commercial operation of the facility is expected to begin by 2025

The total production capacity of the enterprises will be more than 6 million tons of steel products per year

As part of the signed agreement, there is a plan to construct a EAF steel plant

The indicator continues to show growth amid high activity in mining, quarrying and industry