Saudi Arabia has announced plans to establish a national company dedicated to importing scrap metal, aiming to strengthen its domestic steel sector and reduce reliance on imports. The initiative, revealed by the Minister of Industry and Mineral Resources at the Saudi International Iron and Steel Conference, is part of a broader strategy to localize key materials and attract investment, with nearly $16 billion in opportunities identified. The government is also encouraging industry collaboration, the creation of a steel academy to train local talent, and a shift toward high-value, sustainable steel products. The conference brings together thousands of participants to discuss innovation, supply chain resilience, and the future of the region's iron and steel industry.