The Saudi Al Yamamah Steel Industries Company announced today, Tuesday, the start of the construction of a wind power systems plant, at a cost of 293 million riyals. To contribute to the plant in keeping pace with the Kingdom's trends towards relying on renewable energy.

Its construction is expected to be completed by the end of 2022.

She explained that the project financing is divided into 25% self-financing, 25% from local banks, and 50% from the Industrial Fund.

The company stated that the start of the pilot production of the project will take place during the first quarter of the fiscal year 2023, and the period of trial production will reach 3 months.

She indicated that the project's commercial production is expected to start during the third quarter of 2023.

Regarding the expected impact of the project, the company said that the return will appear on the company's business results during the third quarter of the fiscal year 2023.

The project was approved to contribute to the local content of the implementation of wind energy projects announced within the Kingdom's clean energy transformation plan through the ambitious 2030 vision, according to the company.