Kingdom of Saudi Arabian authority advises to invest in steel industry
19 Sep 2019 13:37 reported by Iona Chen
According to the words from Bandarbin Ibrahim Alkhorayef, the Minister of Kingdom of Saudi Arabia Ministry of Energy, Industry and Mineral Resource, expressed that the steel industry needed the appropriate product portfolio in order to create a niche economic requirement for the domestic market.
He indicated that the Saudi Arabian government prepared to assist the steel industry confronts the material procurement, energy prices, and import protections. In the meanwhile, they also ready to discuss potential projects with foreign investors.
The Saudi Arabian government currently established two important administrations. One is the administration of local ingredient management, which would ensure that more local materials were used in production, and the other was the administration of foreign trade management that would assist to protect local producers.
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