Saudi Iron and Steel Company (Hadeed) is the largest iron and steel producer in the Gulf Cooperation Council (GCC) region and the first fully integrated steelmaking facility in Saudi Arabia. Established in 1979 and commencing production in 1983, the company manufactures a broad portfolio of high-quality long and flat steel products for the construction, infrastructure, industrial, automotive, utilities, renewables, transport, and logistics sectors.
Its product range includes reinforcing bars (rebar), wire rods, billets, slabs, structural sections, hot-rolled coils, cold-rolled coils, galvanized coils, and color-coated coils. Production relies on direct reduced iron (DRI) and electric arc furnace (EAF) technologies, with current annual capacities of approximately 3.8 million metric tons of long products and 2.2 million metric tons of flat products. The company sources iron ore and scrap as primary inputs and operates from its main facilities in Jubail Industrial City.
Hadeed has played a pivotal role in Saudi Arabia's industrial development and supports Vision 2030 objectives. In September 2023, SABIC announced the sale of its 100% stake to the Public Investment Fund (PIF) for an enterprise value of SAR 12.5 billion ($3.33 billion), with the transaction closing in 2024. Following the acquisition, Hadeed acquired 100% of AlRajhi Steel Industries in exchange for shares, resulting in PIF as the primary owner and AlRajhi Invest as a minority shareholder. This structure positions Hadeed as a national steel champion with expanded capabilities.
Also known as Saudi Iron and Steel Company and Saudi Iron & Steel Co. (Hadeed).
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Revenue fell 23% year‑on‑year; continuing-operations profit excluding non-recurring provisions was SAR 1.30bn; sale of Hadeed drove non-recurring losses; $6.4bn Fujian JV approved with 1.8Mtpa ethylene cracker.
