China’s Baosteel has confirmed that construction of its USD 4 billion integrated steel plant in Saudi Arabia is advancing on schedule. The facility, located in the King Salman International Maritime Industries Complex at Ras Al-Khair, is a 50:50 joint venture with Saudi Aramco and the Public Investment Fund. Once fully operational, the plant will produce 1.5 million tonnes of steel plate annually, primarily for the domestic energy sector. Site preparation and piling are complete, procurement is underway, and first production is targeted for 2026. The project aligns with Saudi Arabia’s Vision 2030 industrial diversification goals and is expected to create thousands of jobs while reducing reliance on imported steel.
China’s Baosteel says work progressing on USD 4 billion steel plant in Saudi Arabia
