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UK Steel Company Secures $865 Million to Build Manufacturing Plant in Saudi Arabia

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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.

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