Riyadh – Mubasher: Al Yamamah Steel Industries Company will start executing Al Yamamah Wind Power Systems Factory on 1 March 2021 at an estimated cost of SAR 293 million.

The project will be 25% funded from the company's own resources, while local banks and the industrial fund will finance the remaining 25% and 50%, respectively, according to a stock exchange statement on Tuesday.

The project is expected to be completed at the end of the fourth quarter (Q4) of 2022.

Pilot production of the project is projected to start during Q1-23 for three renewable months, while commercial production is likely to begin during Q3-23.

The project will contribute to implementing the wind power projects announced within the kingdom's clean energy transformation plan, the statement said.