Al Yamamah Steel unit inks SAR 270M contract

Al Yamamah Steel Industries Co. said a subsidiary signed a SAR 270 million contract with a European company to manufacture and supply steel billet production equipment, according to a statement.

The contract runs for an undisclosed period. The subsidiary will produce the equipment at its facility in Saudi Arabia and deliver it to the European buyer, the statement said. Al Yamamah Steel, listed on the Saudi Stock Exchange, did not name the European counterparty.

The order supports the subsidiary's manufacturing capacity. The company said the agreement aligns with its strategy to expand its industrial equipment output. No other financial terms were disclosed.