Rabie Azzuz CEO of Rukam Industrial Co.
Rukam Industrial Co. operates a plant with an estimated cost of nearly SAR 45 million. It will recycle nearly 6,000 tons of iron slag on a daily basis, from which it extracts almost 600 kilograms of iron ore, CEO Rabie Azzuz told Argaam in an exclusive interview.
The remaining amounts are allocated for production of industrial concrete of different sizes, to be used in pavements, ready-mix concrete, etc. The production of every ton of iron produces 300 kilograms of iron slag, which is harmful to environment.
The plant uses top-notch technologies to recycle iron slag, get rid of environment and visual pollution and remanufacture iron ore, industrial concrete products and bricks.
Azzuz expected the plant to begin operations in the first quarter of 2023, noting that the company eyes expansions in the Kingdom.
On the other hand, he pointed to a decline in iron prices during the current period, predicting a rise of 10-15% in prices in Q3 2022, as NEOM project has started to buy large quantities of reinforced steel.
The company signed an agreement with Dammam-based Arab Steel Co., an affiliate of Al Ittefaq Steel, to get 2.5 million tons of iron slag, which will be recycled to produce iron ore. Rukam Industrial is also in talks with other peers in the sector to cooperate on various projects, Azzuz concluded.
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