Recently, a Chinese company signed an agreement with two Saudi companies to invest in the construction of a green steel plate plant in Saudi Arabia. It will be the first green and low-carbon full-process steel plate project in the world. Under the agreement, the parties will establish a joint venture in Ras Al-Khair Industrial City (one of the four new special economic zones in Saudi Arabia) to build a full-process steel manufacturing base with a design capacity of 2.5 million tons of direct reduced iron and 1.5 million tons of steel plate. After obtaining approval, filing and registration from the relevant regulatory authorities, the project will start construction and is expected to be put into operation by the end of 2026.
