Hadeed diversifying raw material supply to produce value-added products: chairman

Hadeed, a fully-owned manufacturing affiliate of Saudi Basic Industries Corp. (SABIC), focuses on diversifying its raw material supply towards the production of differentiated value-added products, said company chairman Salah Al-Ansari.

During his participation in the virtual Middle East Iron and Steel Conference, Al-Ansari said the company’s main strategy aims to enhance its competitive advantage and maintain its leading position in the market.

“Hadeed is driving its steel business strategy towards expanding its industry chain through upstream raw material integration.”

He added that the company took extra preventive measures across its facilities to ensure business continuity and a reliable supply to its customers in local and global markets.

Hadeed continued to export to the international destinations during the COVID-19 pandemic.

The Kingdom’s strategies during COVID-19 made a positive impact on the steel industry, Al-Ansari said.

“The Saudi government announced financial packages to support the private sector and individuals during the pandemic and afterward, such as the postponement of the government fees and the focus on local content,” he added.