Saudi Arabia's PIF grows steel assets with Rajhi Steel purchase

Following a cross-conditional share exchange agreement, Saudi Arabia's Public Investment Fund (PIF) will acquire a 100% shareholding in AlRajhi Steel Industries Company (Rajhi Steel) from Mohammed Abdulaziz AlRajhi & Sons Investment Company (Rajhi Invest).

Rajhi Steel has 1 million tonnes per year crude steel production capacity and 2.2 million tonnes per year long steel production capacity, according to the Arab Iron and Steel Union...


Serife Durmus

September 05, 2023

20:55 GMT

Bursa, Turkey