Following Qatar's hosting of the World Cup in 2022, Saudi Arabia will become the second Middle Eastern country to host the event, in 2034. This hosting will not only strengthen the Kingdom's worldwide sports status but will also highlight the country's major building and infrastructural developments.
Saudi Arabia has revealed its plans to host the 2034 World Cup at 15 stadiums across five cities, including eight in the capital Riyadh. The tournament will be place in five cities: Riyadh, Jeddah, Al Khobar, Abha, and Neom, the futuristic new city in the country.
Of the 15 stadiums planned for the World Cup, 11 are new, with four presently under development. The country's two current major stadiums will be renovated, while another two existing stadiums will be temporarily expanded for the event. Furthermore, some additional improvements will be seen in infrastructure, particularly in transportation. Since there is a long distance between stadiums, Saudi Arabia plans to expand airports, introduce high-speed rail lines, and improve public transport.
As a result, it is anticipated that the need for steel will rise in the years to come, and it may also spur steel imports. According to estimates, 310,000 mt of steel will be required in the coming years.
Meanwhile, according to market players, all new infrastructure and construction projects are now in the stage of being considered rather than already being underway, with a projected start year of 2027.
"In the foreseeable term, I do not see any immediate changes. Major development will begin in early 2027. Everything is now on the drawing board," one source commented to SteelOrbis.