SABIC provides 50% of Saudi local steel: Exec

Saudi Basic Industries Corp. (SABIC), the Gulf’s leading steel producer, ​currently supplies about 50 percent of the Saudi market​'s steel and iron needs, according to a statement by Abdulaziz al-Humaid, executive vice president of Metals, which is wholly owned by SABIC.

SABIC, which increased its iron and steel production by six million tons, produces earthquake proof steel used in projects by Saudi Arabian Oil Co (Aramco) and high carbon steel coil to keep pace with demand in the local market, he was quoted as saying in a statement obtained ​by Argaam.