UK steel company secures $865 million to build manufacturing plant in Saudi Arabia.
The funds will be used to establish an integrated manufacturing plant within Ras Al-Khair Industrial City in the Kingdom, which is said to produce approximately 1.8 million tons of steel billets.
UK-based J.O. Steel Holdings PLC has secured a $692 million credit facility from a consortium of banks and financial institutions led by Saudi British Bank (SABB), the company said in a statement.