Commencement of three industrial projects at a cost of 35 billion Rials

 Saudi Minister of Industry and Minerals Bandar Al Kharif has said that 3 big projects will be started in the industry sector, which will cost more than 35 billion Riyals.

According to Akhbar 24, Al-Kharif, speaking at the second Saudi World Conference in Riyadh on Monday, said that the production of the three factories will reach 6.2 million tons.

A complete iron plate manufacturing complex will be set up. Its production is estimated at 1.2 million tonnes. With its help, ships, pipes, petrol platforms and giant tanks will be developed. Besides, another factory will produce iron round blocks with an annual production of one million tons.

Al-Kharif said that talks are underway with a group of international investors to set up a complete iron plate manufacturing complex. Its annual production will be 4 million tons.

Al-Kharif pointed out that a national plan for the structure of the iron and steel sector has been prepared. In this regard, 41 recommendations have been formulated to establish the iron and steel sector on a solid footing. Details in this regard will be released soon.