Saudi Arabian iron and steel producer Rajhi Steel Company has announced its intention to expand its iron and steel production capacity to 4.6 million metric tons per year by 2012 in order to meet local demand.
Accordingly, in 2011 Rajhi Steel Company intends to establish a rebar mill in Jeddah with an annual production capacity of one million mt, and, by the end of 2012, another mill to produce direct reduction iron which will have a production capacity of 1.8 million mt.
Moreover, Rajhi Steel Company also plans the expansion of its merchant steel production to 220,000 mt per year.
The total cost of the projects will amount to one billion dollars.