Sahal Al-Thobaiti, CEO of Al Yamamah Steel Industries Co.
Sahal Al-Thobaiti, CEO of Al Yamamah Steel Industries Co., stated that the business’s existing agreements stockpile is valued at roughly SAR 1.1 billion, including that it anticipates to protect extra agreements before completion of 2026.
In an interview with Asharq Bloomberg on the sidelines of the WPC Energy Congress in Riyadh, Al-Thobaiti stated the business anticipates sales and revenues to increase in 2027, supported by growth in the electrical energy and renewable resource sectors and growing need for steel following the existing downturn in building activity.
The electrical energy sector is presently driving sales and revenue development. The business is broadening its Yamama Power Transmission Towers plant, intending to increase production capability by 30% beginning in January 2027, he included.
Al-Thobaiti even more specified that the business has actually opened a lighting plant in Jeddah, associated with its poles plant, to reinforce its existence in the electrical energy sector. He stated the business likewise has growth strategies throughout numerous sectors, with more information to be revealed later on.
Relating to funding, he stated the business’s loans amount to roughly SAR 950 million, which are short-term loans utilized to fund working capital and are supported by development in sales and continuous tasks.
According to Argaam‘s information, Al Yamamah Steel signed just recently 2 agreements with Algihaz Contracting Co. to provide steel towers for a job to build a 380 kV extra-high-voltage transmission line in the Western Region, with an overall worth of SAR 254.28 million.
Supply is set up to start in March 2027 and the monetary effect anticipated to emerge in the very first quarter of 2027.
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