Saudi Arabia’s Al Yamamah Steel Industries said its subsidiary, Al Yamamah for Reinforcing Steel Bars, has signed a SAR 270 mln (USD 72 mln) contract with a specialized European company for the manufacturing, supply and installation of equipment for its billet production plant.
The contract, signed on July 14, has a duration of two and a half years, with the financial impact expected to be reflected in the second half of 2028.
The equipment contract forms part of Al Yamamah’s billet production project aimed at strengthening backward integration and securing raw material supply for its long steel operations.
Al Yamamah Steel specializes in the manufacturing and sale of a variety of products including welded tubes, sheets, rebars, and three-dimensional space structures, primarily serving the buildings and infrastructure sector. The company also produces galvanized steel lighting and distribution poles, high mast structures, and galvanized steel lattice towers for the electrical and distribution industry. Its production facilities are strategically located in Jeddah, Dammam, and Yanbu.
1 USD / 3.75 SAR