‎Al Yamamah Steel launches commercial production in 1st phase of Jeddah pipes factory expansion

Logo of Al Yamamah Steel Industries Co.

Al Yamamah Steel Industries Co. launched commercial operation of phase one of the expansion of the Jeddah pipes plant this month, according to a statement to Tadawul.

The company expects the related financial impact to appear as of Q3 2024.

For more news and details on the projects

The company’s board of directors approved, on Feb. 8, 2021, increasing the annual production capacity of pipe and tube plants in Jeddah and Dammam, at the cost of SAR 33 million. It expected that commercial operations would commence in Q2 2022, according to Argaam’s data.

The company noted in the board’s report for 2023 that the operation of the first phase of the expansion of the Jeddah pipes plant will kick off in Q2 2024.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/article/articledetail/id/1721250