Saturday , October 16 2021

Unfair competition The production of steel plants has decreased to 50%

The National Committee for the Iron Industry in the Councils of Chambers revealed that less than 50% of factories in this sector produce less than their production capacity. She indicated that she intended to organize the Saudi International Iron and Steel Conference in March 2019. In Riyadh to build a map for the future of the Saudi iron industry. Saudi Iron & Steel Industry.

"Many of our factories produce less than 50 percent of production capacity due to unfair competition," said Raed Al-Ajaji, chairman of the National Steel Industry Committee. "We are still able to import countries." "We leave unused billions of economic value, and today we have the opportunity to work together to stop this and maintain this income in the country to help implement our development plans, because the steel industry is strategically important to our economic future."

He pointed out that the Kingdom has invested billions of dollars in world-class facilities producing high-quality iron products over the years and must work together to ensure their competitiveness and prosperity.

According to the National Iron Industry Commission, the Saudi market currently needs about 20 million tonnes of ferrous products to meet current domestic demand, and demand will continue to grow as infrastructure projects related to the 2030 vision develop.

About 55% of the total domestic demand comes from imports, while actual production falls below 50% of the available production capacity due to unfair competition.

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