Essar Group awaits final approvals for $4.5B low-carbon steel plant investment in Saudi Arabia, targeting EV manufacturing growth.
Essar Group awaits final approvals to invest $4.5 billion in a low-carbon steel plant in Saudi Arabia, with a planned capacity of 4 million tonnes annually. The Indian conglomerate will also develop port facilities at Ras Al-Khair. The steel plant will address domestic demand in Saudi Arabia, as the country aims to become an electric vehicle manufacturing hub, aiming to produce over 300,000 cars by 2030.
June 23, 2024
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