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Saudi Arabia Invests $16 Billion to Boost Steel Production

10/16/2025

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Summary

Story summary

Saudi Arabia is restructuring its iron and steel sector to address local deficits, under Saudi Vision 2030, with 60 billion Riyal investment opportunities.
Minister Bandar Al-Khorayef announced plans to increase production capacity to meet rising demand from construction and infrastructure projects.
Saudi aims to raise iron production to 25 million tons by 2035.
The plan reduces imports from 7 million tons in 2019 to 4 million tons currently.

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Story summary

Saudi Arabia is restructuring its iron and steel sector to address local deficits, under Saudi Vision 2030, with 60 billion Riyal investment opportunities.
Minister Bandar Al-Khorayef announced plans to increase production capacity to meet rising demand from construction and infrastructure projects.
Saudi aims to raise iron production to 25 million tons by 2035.
The plan reduces imports from 7 million tons in 2019 to 4 million tons currently.