The Indian multinational and construction company Essar Group will build a steel plant in the Ras Al-Khair Industrial City in Saudi Arabia, after signing a Memorandum of Understanding with the National Center for Industrial Development in Saudi Arabia in October 2021. The project will cost $4 billion and will be completed by the end of 2025. The new integrated steelworks plant with a production capacity of 4 million tons per year will have continuous casting capacity to produce hot and cold rolled steel coils, iron plates and tinplate plates.
Essar invests $4 billion in a steel facility in Saudi Arabia
