Ras Al-Khair Commission inks deal for industrial complex with investments over SAR 15 bln

Steel coils

The Royal Commission at Ras Al-Khair Industrial City signed, on Dec. 15, an agreement to allocate industrial land for establishing and operating an industrial complex to produce steel coils, with a total area of more than three million square meters (sqm) and investments worth over SAR 15 billion.

The agreement provides for the establishment and operation of an industrial complex to produce cold rolled and hot rolled steel coils, steel sheets and tinplate.

The project is the first of its kind in the Middle East and will provide steel sheets used in the vehicles and ship industry, as reported by the Saudi Press Agency (SPA).

This agreement comes as part of the authority’s efforts to promote and attract investment in line with the development of the industrial growth movement of its cities.

The industrial complex will create more than 1,600 direct jobs and more than 8,000 indirect jobs.