Saudi Arabia allocates $6 bln for new flat steel plant, EV battery plant

Saudi Arabia’s Ministry of Industry and Mineral Resources has allocated $6 billion for the construction of new steel plate and hot-rolled coil plants, and an electric vehicle (EV) battery plant, according to a release dated Friday May 6.

The investments come under the Middle Eastern country’s Vision 2030 plan, with the intention of diversifying Saudi Arabia’s economy away from a dependence...


Serife Durmus

May 09, 2022

13:15 GMT