Saudi Iron & Steel Company (Hadeed) has signed a letter of intent with the National Shipping Company of Saudi Arabia (Bahri) to explore potential cooperation in maritime transport to support Hadeed’s iron ore shipping requirements.
Under the LOI, the two parties will assess options for leveraging Bahri’s shipping capabilities, including potential joint opportunities and the development of vessels tailored to Hadeed’s operational needs within the Kingdom.
The initiative aligns with broader efforts to strengthen industrial integration and localize value chains, with Bahri serving as the national maritime carrier and Hadeed as a leading domestic steel producer.
Hadeed is the GCC’s major steel producer with an annual capacity of 3.8 mln tons of long products and 2.2 mln tons of flat products. The company was acquired by the Public Investment Fund in May 2024.
