Essar awaits nod to start work on $4.5 bn steel plant in Saudi
Steel

Essar awaits nod to start work on $4.5 bn steel plant in Saudi

The Essar Group awaits final approvals to start investing about $4.5 billion in building a low-carbon steel plant in Saudi Arabia. The approvals are expected anytime now after which the conglomerate will start working on the 4 million tonne per year steel plant along with port facilities at Ras...
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The Essar Group awaits final approvals to start investing about $4.5 billion in building a low-carbon steel plant in Saudi Arabia. The approvals are expected anytime now after which the conglomerate will start working on the 4 million tonne per year steel plant along with port facilities at Ras Al-Khair in Saudi Arabia. The plant will meet domestic steel demand in Saudi Arabia. Saudi Arabia is going through a large growth phase and a large part of steel today is getting imported into Saudi Arabia so it is basically a domestic plant. The oil-rich kingdom is eyeing becoming an electric vehicle manufacturing hub.    Contact: The Essar GroupWebsite : www.essar.com

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