South Arabian company Al Yamamah signs a $71 million deal with Danieli to build a new billet production plant

Saudi Arabia-based Al Yamamah Steel Industries has announced that its subsidiary Al Yamamah for Reinforcing Steel Bars Company signed an agreement worth 270 million Saudi riyals (71 million US dollars) with Italian engineering group Danieli on July 14 to build a new steel billet production plant in the kingdom. The project is expected to be completed within two and a half years, and its financial impact is expected to begin to manifest itself in the second half of 2028.

The contract covers the production of the main equipment for the production of blanks of the plant, as well as its supply and installation by Danieli. The agreement marks a concrete step in Al Yamamah's plan to expand steel production and develop new billet production facilities in Saudi Arabia.

Additional information about the plant's production capacity and its exact location has not yet been disclosed. Upon completion, the facility is expected to strengthen Al Yamamah's presence in the Saudi steel sector and support its production of rebar steel with locally produced blanks.

Hilal KhologluEditor

With more than four years of experience in the steel industry and an academic degree in politics and economics from the University of Milan, I work as a market analyst at SteelOrbis. I mainly cover flat and long products, paying special attention to Turkey, Eastern Europe and the Middle East. My work involves analyzing price movements, market sentiment, and changes in supply and demand in these regions.