Saudi-based steel producer has signed a memorandum of understanding (MoU) with Saudi Arabia’s National Industrial Development Center (NIDC) to cooperate on the production of special bar quality (SBQ) and round steel billets in Saudi Arabia, in line with the objectives of Saudi Vision 2030.
According to the steelmaker, the MoU defines a general framework for collaboration between the two parties in the field of special steel and round billet production, with a focus on localization of industrial activities and the creation of new employment opportunities, in line with Saudi Vision 2030 objectives.
Under the scope of the agreement, Solb Steel will be responsible for the development and operation of the production processes, while the NIDC, acting as a public industrial development body, will focus on enhancing knowledge transfer, supporting technologies, and improving the efficiency of local production and supply chains.
