Saudi Arabia invests $12 billion in ferrous metallurgy

Saudi Arabia is implementing $12 billion in investment projects in ferrous metallurgy, with a projected 2.5 times increase in steel product consumption in the coming years due to megaprojects in industry, tourism, and other sectors. The country's hosting of the World Expo 2030 is also attracting foreign companies, with Chinese groups exploring joint ventures with Saudi pipe manufacturers. The synergy between Chinese expertise and Saudi Arabia's burgeoning industrial sector is poised to create mutually beneficial partnerships, further solidifying economic ties between the two nations.