Danieli to Build Steel Billet Plant in Saudi Arabia by 2029

Summary:

Al Yamamah Steel Industries Company has contracted Italian firm Danieli to establish a steel billet production plant in Saudi Arabia by 2029, under a SAR270 million ($71 million) agreement. Danieli, founded in 1914 and based in Buttrio, Italy, is among the top three global manufacturers for the metals industry, specializing in equipment for both ferrous and non-ferrous metals. The project will include the manufacture, supply, and installation of production equipment, with completion expected within two and a half years, impacting Al Yamamah's financials in the latter half of 2028.