STAT is pleased to announce that it acted as legal counsel to Al Yamamah Company for Reinforcing Steel Bars on the development of its new integrated steel production facility in Yanbu, Saudi Arabia.

With a planned production capacity of one million tonnes of steel billets per annum, the project, with an approximate value of SAR 270 million, represents a significant investment in Saudi Arabia’s industrial and manufacturing sector and will strengthen the Kingdom’s domestic steel-production capabilities. The Project brings together a leading Saudi steel manufacturer and a leading Italian engineering group, reflecting the increasingly international nature of major industrial developments in the Kingdom.

STAT advised on the drafting, review, negotiation and execution of the cross-border transaction documentation. The mandate included advising on contractual arrangements with Danieli, one of the world’s leading engineering groups for the metals industry, as well as on contractual risk allocation, commercial terms and the legal framework governing the implementation of the Project.

STAT team was led by Counsel Ruba Alharthi, supported by Associate Rilwan Shittu and Trainee Associate Ibrahim Alshinifi.

Ruba Alharthi commented: “This project reflects the continued ambition and growth of Saudi Arabia’s industrial and manufacturing sector in line with the objectives of Saudi Vision 2030. Advising on cross-border industrial projects of this nature requires not only an understanding of the local legal framework but also the ability to navigate complex international contractual arrangements. We were pleased to advise Al Yamamah Company for Reinforcing Steel Bars on this landmark cross-border transaction and to support a project that will strengthen the Kingdom’s domestic steel production capabilities.”

This mandate builds on STAT’s track record of advising leading industrial, infrastructure and manufacturing clients on complex domestic and cross-border transactions.