S. Arabia's Al Yamamah Secures New Funds to Support Billet Production Plans

Published: Aug 27, 2026 14:41

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Saudi Arabia-based Al Yamamah Steel Industries has taken another step toward developing its planned billet production facility, with subsidiary Al Yamamah Company for Reinforcing Steel Bars securing SAR 500 million ($133 million) in financing from Arab National Bank on August 24 for construction of the new plant.</cite> (cite index="22-1">This follows an earlier SAR 300 million capital increase at the subsidiary, with Al Yamamah contributing SAR 75.6 million, and a July agreement worth SAR 270 million with Italian plantmaker Danieli for billet production equipment, expected to run over two and a half years.</cite> (cite index="22-1">While the latest financing announcement did not disclose the plant's location or capacity, earlier information pointed to Yanbu as the site with planned capacity of around 1 million mt/year, expanding Al Yamamah's push toward a more integrated steel production structure in Saudi Arabia.

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