Riyadh Steel announces formation of strategic planning committee

Riyadh Steel Company announced on Thursday the establishment of a strategic planning committee, as per the board of directors’ decision in a circular dated October 3, 2024. The committee’s mandate is to identify and evaluate investment opportunities, merger and acquisition proposals, and other strategies aimed at enhancing the company’s competitiveness, financial sustainability, and overall growth.

The committee members are:

• Khalid bin Hamad Al-Yahya
• Abdulkarim bin Ibrahim Alnafie
• Maan bin Hamad Al-Jasser
• Ahmed bin Abdulkarim Alnafie

The committee’s term will conclude with the end of the current board term on January 17, 2027.

This decision does not have any immediate financial implications, and further developments will be communicated as they arise.