26
Jun
06:32
India's Essar awaits final Saudi steel plant approvals
Essar Group is awaiting final approvals to begin a $4.5 billion investment in constructing a low-emission steel plant in Saudi Arabia.
These approvals were initially expected by June 2024, notes Kallanish.
Prashant Ruia, director of Essar Capital, announced that the conglomerate is poised to start work on the 4 million tonnes/year steel plant, alongside port facilities at Ras Al-Khair, once approvals are granted. Land allocation has already been secured.
The co…
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Very good overview of the weekly steel market.
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