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JCPDI Exports 11,000 Tons of Pig Iron to Italy

JCPDI also imported 30,000 tons of ilmenite from the Mozambique. - SPA
JCPDI also imported 30,000 tons of ilmenite from the Mozambique. - SPA
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JCPDI Exports 11,000 Tons of Pig Iron to Italy

JCPDI also imported 30,000 tons of ilmenite from the Mozambique. - SPA
JCPDI also imported 30,000 tons of ilmenite from the Mozambique. - SPA

Jazan City for Primary and Downstream Industries (JCPDI) exported over 11,000 tons of pig iron through its port to Italy, SPA reported.

Pig iron is one of the quality products produced in the factory of the Advanced Smelting Industries Company in JCPDI, which uses state-of-the-art technologies to operate smelting furnaces that are the largest of their kind in the world.
This week, JCPDI also imported 30,000 tons of ilmenite from the Mozambique.

JCPDI's port is a crucial logistical center for trade exchange in the Kingdom, with advanced capabilities and technology in logistical transport services.
Its geographical location on the Red Sea and proximity to the Bab al-Mandab Strait and the countries of the Horn of Africa make it an ideal station for many opportunities in the fields of maritime transport, freight, and export business.

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Saudi Giga-project Diriyah Agrees Deals Worth $1 bln with European Firms, Says CEO

Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo
Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo
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Saudi Giga-project Diriyah Agrees Deals Worth $1 bln with European Firms, Says CEO

Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo
Jerry Inzerillo, Group CEO of the Diriyah Gate Authority reacts during the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. REUTERS/Hamad I Mohammed/File Photo

Diriyah, one of Saudi Arabia's giga-projects, has agreed deals worth nearly $1 billion with European firms and is in talks to attract more foreign capital, its CEO said.

Diriyah, located at a UNESCO World Heritage site outside the capital Riyadh, has been backed by PIF investments worth a total of around 20 billion riyals ($5.33 billion) in 2023 and 2024, and should get 12 billion riyals more next year, its CEO said.

It has recently agreed deals worth nearly $1 billion in total with an Italian developer and a French company and is in talks with several foreign investors looking to buy equity stakes in hotels and other real estate developments, Jerry Inzerillo told Reuters in New York this week.

"There's a lot of interest from America, a lot of interest from every country," he said. "We'll work with any country that can deliver quality and stay on time."

Foreign investors have already bought stakes in several projects in Diriyah, said Inzerillo, with more to come.

"A lot of people can see that it's built, it's doable; it's no longer renderings, no longer 'you wait and see' ... So now we're seeing a big spike in interest in foreign investment".

Inzerillo said investment priorities have changed because of upcoming events such as the Expo 2030 world fair, which Riyadh last year won the right to host. But the pace and scope of the Saudi giga-projects have not been scaled back, he said.

"It's a realignment, a re-prioritization ... not a reduction," he added.