Al-Tuwairqi to set up 4 steel mills in Pakistan, UAE, Bahrain and Egypt

Wednesday, 27 Sep 2006

It is reported that Saudi Arabia based Al-Tuwairqi Group plans to establish 4 steel mills in Pakistan, the United Arab Emirates, Bahrain and Egypt within the next 3 years at an investment of SR2 billion ($533.3 million) with an aim to become the largest steel maker in the Middle East.

Mr Hilal Al-Tuwairqi chairman of the group while speaking to reporters after signing an agreement with Indonesia's Krakatau Steel Co to establish a JV in Kalamantan said "We aim at speedy progress and less cost. Within the next 10 years, the group's total production capacity is expected to exceed 5 million tons.’

Al-Tuwairqi has 7 factories inside Saudi Arabia including Al-Ittefaq factory which has a capacity to roll 1.3 million tons of rebars.