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Tamia for Iron signs 500M riyal deal with Al-Arabi
Al Yamamah Iron Industries Company announced that its subsidiary, Al Yamamah Reinforcing Steel, has signed a credit facility agreement with the Arab National Bank valued at 500 million Riyals. The purpose of this agreement is to support expansion plans and the construction of a new iron billet factory to increase production capacity in the metal industries sector. The agreement was signed on August 24, 2026, based on a long-term financing arrangement spanning seven years, with a promissory note provided as financial security to safeguard the financing rights. The company is currently completing the necessary procedures to activate the facilities and to commence the implementation of the new factory plan according to the scheduled timeline.
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