Riyadh Steel forms strategic planning committee

Logo of Riyadh Steel Co.

Riyadh Steel Co. established a strategic planning committee following the company's board of directors’ decision on Oct. 3.

In a statement to Tadawul, the company said the committee's responsibilities include proposing the most viable investments by exploring available investment opportunities, merger and acquisition proposals, and other solutions aimed at enhancing the company's competitiveness, financial sustainability, and growth of its financial position.

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The committee includes Khalid Al-Yahya, Abdulkarim Alnafie, Maan Al-Jasser, and Ahmed Alnafie. Its term will conclude at the end of the current board's term on Jan. 17, 2027,Riyadh Steel said, noting that this decision does not have any financial implications.

Any developments will be announced in due course, the statement added.