Saudi-based Rajhi Steel plans to set up a US$4 billion heavy steel complex at King Abdullah Economic City (KAEC) and will obtain dry gas from Aramco, the Saudi Press Agency (SPA) reported.
Rusal, the worlds largest aluminium producer, said that it sees steady output growth in 2011 for aluminium, driven by strong demand from China and a rebound in North America.
Maaden, The Saudi Arabian Mining Company, signed financing contract on two joint ventures with Alcoa Inc. worth US$2.1 billion with the Public Investment Fund (PIF).
A report by Deloitte said that in terms of production and investment opportunity, the Middle East is set to become a key player in the metals and mining industry.
The Kurdistan Regional Government (KRG) has licensed an Iraqi firm to build a smelter and steel plant worth nearly US$1.1 billion.
