Al Yamamah Steel plans SAR 260 mln manufacturing plants

22/01/2018 Argaam

 

Al Yamamah Steel Industries Co. (Al Yamamah Steel) on Monday said it plans to set up two steel structure manufacturing plants at an investment of SAR 260 million for the wind and solar energy industry.

 

The firm did not provide the location of the plants.

 

The plants will be financed through internal sources, funding from the Saudi Industrial Development Fund (SIDF), and via bank loans, Al Yamamah Steel said in a bourse statement.

 

The engineering studies and funding plans are expected to be finalized by Q2 2018.

 

The project is in line with Saudi Vision 2030 and the National Transformation Program (NTP), the firm said.

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