Saudi King Inaugurate the South Steel Project
The King of Saudi Arabia Abdullah Bin Abdel Aziz,
inaugurates the South Steel project “SOLB” of
Pan Kingdom Investment Co. on November 4, 2006.
The inauguration is held as part of the
inauguration ceremony of the Jizan Economic
City, located in the South West of Saudi Arabia.
Jizan Economic City is one of the new multi
million square meter economic zone in Saudi
Arabia, and its total area will exceed 100
million square meters. The total investments in
the area will be over 27 billion dollars.
South Steel project for phase 1 with a capacity
of one million ton billets and re-bar is going
to be held over one million square meters in
Jizan Economic City, and it is going to be the
first steel plant in Jizan area, which is
considered as one of the most highly populated
region in Saudi Arabia.
Pan Kingdom Invest Co. is the main investor in
the project and it is in the final stage of
selecting one of the three main technology
suppliers. The latter has received the project
tender from Cores Consulting who is acting as
the technical consultant and advisor of the
project.
Pan Kingdom Invest Co. is currently in
negotiation with international steel producers
to participate in as strategic partners.
The projected plan product will be marketed
mainly in the Southern region of Saudi Arabia as
well as in Yemen, Djibouti, Sudan and Ethiopia.
