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Saturday, Oct 01, 2022

Massive construction projects in Saudi Arabia ‘offer historic opportunity for steel industry’

Massive construction projects in Saudi Arabia ‘offer historic opportunity for steel industry’

President of the Saudi International Iron and Steel Conference Eng. Raed Al-Ajaji stressed that the 2nd edition of the conference, which was hosted in Riyadh between September 12 and 14, has realized unique successes and qualitative participation of some 1,000 decision-makers and pioneers of the iron and steel industry at the local, regional and international levels.
The conference witnessed the signing of agreements worth SR400 billion and reached scientific and practical recommendations that can push the future of this industry and enhance its role in economic and industrial development in developed and developing countries.

Al-Ajaji expressed his appreciation and gratitude for the wise leadership's approval to hold this conference and for the support for the national iron industry as part of Saudi Vision 2030.

He noted that the conference shed light on the capabilities of the iron industry in the Kingdom and its plans to become a main player in steel production at the international level as part of huge projects that are being developed.

He described the projects as the biggest construction schemes in history and will consume the biggest amount of iron, which constitutes a historic opportunity for local and international iron manufacturers.

He said, “The conference addressed the Kingdom of Saudi Arabia's efforts related to the iron industry in the field of environment and reducing carbon emissions and the use of green hydrogen.”

As for the global iron industry, Al-Ajaji said that the conference discussed challenges related to supply chains and the increase in prices of energy and raw materials, the geopolitical conditions and the COVID-19 pandemic and their impact on the global iron manufacturing and the levels of production and supply and demand. He urged manufacturing companies to adopt environment-friendly production technologies to limit carbon emissions.
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