Turkey-based steelmaker Kocaer Çelik Sanayi ve Ticaret A.Ş. (Kocaer Çelik) has announced that it will supply steel for the Saudi Arabian Public Investment Fund’s Neom city project. With the given project which is being built with a total investment of $500 billion, the company expects to strengthen its sales to the MENA (Middle East-North Africa) region, where 19 percent of its international sales were supplied in 2022.
The city of Neom, which is in the northwestern region of Saudi Arabia and on the coast of the Red Sea, will consist of four regions and will be fully operated by renewable energy resources. The construction of the first region is scheduled to be completed in 2024.