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Saudi-based Al Yamamah Steel Industries Company has announced that it has begun commercial production at its newly-expanded pipe factory in Jeddah. This comes following the completion of the first phase of the expansion plan for the factory.
A leading player in the region, Yamamah Steel is engaged in the production and sale of steel welded tubes, steel sheets, steel reinforcement bars and space frames to serve the buildings and infrastructure sector.
As per the company’s annual board report, the operation of the first phase of the expansion of Jeddah Pipes factory would begin in the second quarter of FY 2024, said Al Yamamah Steel Industries in its filing to the Saudi bourse Tadawul.
The expanded Jeddah Pipes factory has started commercial production this month, it stated.
On the financial impact, Al Yamamah Steel Industries said it is expected to be reflected from the beginning of the third quarter of the fiscal year 2024.
TradeArabia
