There are three things extremely hard: steel, a diamond, and to know one’s self  - I am proud of just this mile of steel upon it, my visions come to life  - A warrior's word is unchanging as steel  - My heart is true as steel  - The finest steel has to go through the hottest fire  - The same hammer that shatters glass forges the steel  - The most beautiful bridge in the world so pure, so resolute, so regular that here finally, steel architecture seems to laugh  - Hit the Iron when still hot!  - Only Iron cuts Iron  - Can I fear... when life is but trivial, and a heart of steel and blazing fire!

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Preface

Al Atoun Steel Industries is setting up a manufacturing facility for Steel Billets and Rebars in yanbu, located in the western Region of KSA and about 320 Kms from Jeddah, to cater to the construction industries. The facility has been designed for 910,000 MT of steel Billets and 500,000 MT of Rebars of sizes ranging from 8mm to 32mm, and round bars from 12mm to 70mm through the EAF-LF-CCM route for billet making and HRM for bar rolling.

Al Atoun Steel Industries is a closed joint stock company established under the rules and regulations of the Kingdom of Saudi Arabia and was established in 2006, with its registered office at PO Box 5258, Jeddah-21422, Saudi Arabia. The capital is defined by an amount of one hundred million shares at par with a paid up capital of 50% of the outlay. The Board of Directors consisting of seven members shall undertake the company’s management elected at the general meeting of the Board.

The company registration number is: 4030182987 CJSC, and the industrial license number for steel billet and rebar plant: 583/S dated 6/03/1428

The total cost of the plant is presently estimated at about 500 million USD. The contract for turnkey project is with Siemens VAI for the complete process design, engineering, manufacturing, supervision, erection and commissioning with full guarantees for its performance as designed.

The technical consultant for the project are VWN steel solutions, Switzerland, Our company policies and procedures are from Ernst & young, and we have our local contracts for audits, solicitors, civil consultant, environmental consultants etc.

The project would be commissioning in the second quarter of 2013 and would be in commercial production soon after.