Al Yamamah Steel Industries Company intends to start implementing the Al Yamamah Wind Energy Systems Factory project, which has a cost of 293 million riyals (78.12 million dollars). Its construction is expected to be completed by the end of 2022.
According to Arabnet in a company statement that financing the project is divided into 25% self-financing, 25% from local banks, and 50% from the industrial fund.
>
Regarding the expected impact of the project, the company said that the return will appear on the company's business results during the third quarter of the fiscal year 2023.
The company stated that the start of trial production of the project will take place during the first quarter of the fiscal year 2023, and the period of trial production will reach 3 months.
and indicated that the commercial production of the project is expected to start during the third quarter of 2023.
and the project was approved to contribute to the local content for the implementation of wind energy projects announced within the Kingdom's plan for the clean energy transformation through the ambitious 2030 vision, according to the company.
