Saudi Arabia’s Solb Steel has signed a memorandum of understanding with the National Industrial Development Center to explore the production of Special Bar Quality (SBQ) steel and round billets, in line with Saudi Vision 2030 goals to localize industry and create jobs. The announcement did not disclose further details on capacity, timelines, or investment.
Solb Steel, which operates an electric arc furnace-based steel plant at Jazan Economic City with an annual capacity of 1.2 mln tons, resumed operations in mid-2024 following a financial restructuring and new investment from major shareholders, including Qatar Steel. The company currently produces rebar and wire rod.
