Watani Steel
Watani Steel is a Saudi Arabian steel manufacturer that produces rebar in sizes 10-32mm and steel billet from recycled scrap using magnetic induction furnaces, selling primarily to construction contractors and rolling mills across Saudi Arabia and listed on the Tadawul Nomu market.
- Company typePublic
- Founded2021
- HeadquartersRiyadh, Saudi Arabia
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Watani Steel does
Watani Iron and Steel Company (operating as Watani Steel) is a Saudi Arabian steel manufacturer founded in 2021 and headquartered on Al Kharj Road in the Heet district of Riyadh. The company produces two core products using a single integrated process: steel billet (semi-finished iron blocks cast from recycled scrap via magnetic induction furnaces) and reinforcement steel bar (rebar) in diameters from 10mm to 32mm, which is rolled from the company's own billet. Its billet output is also sold externally as feedstock to rolling mills producing angles, squares, flat iron, railway, and bridge components.
The company's customer base is concentrated in Saudi Arabia and consists of two horizontal segments: (i) construction companies, contractors, and builders purchasing rebar for reinforcement applications under project specifications, and (ii) rolling mills purchasing billet as a raw-material input. Watani Steel operates a sales-led B2B go-to-market model through direct sales relationships, with no public pricing disclosure and no digital self-serve channel. It is publicly listed on the Saudi Exchange's Nomu parallel market (Tadawul) and submitted a transition request to the main market in 2024, with annual board reports and quarterly preliminary financial results published through official channels.
Ownership and capital structure remain concentrated: founding family shareholders, including the Alrajhi and Al-Turaif families, control the board (Meshaal Abdul Karim Mohamed Alrajhi as Chairman, Omar Mohamed Abdul Rahman Alturaif as Deputy Chairman, Yousef Mohamed Abdul Rahman Alturaif as Managing Director and CEO), and the company maintains Sharia-compliant banking relationships with Bank Albilad and Alinma Bank as core financial partners. No private equity or venture capital ownership is disclosed, and revenue figures, production tonnage, and valuation metrics are not available in the source material.
Watani Steel firmographics
Firmographics- Name
- Watani Steel
- Legal name
- Watani Iron and Steel Company
- Website
- https://watanisteel.sa
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Watani Steel is a Saudi Arabian steel manufacturer that produces rebar in sizes 10-32mm and steel billet from recycled scrap using magnetic induction furnaces, selling primarily to construction contractors and rolling mills across Saudi Arabia and listed on the Tadawul Nomu market.
- Ownership category
- akta.pro rank
Watani Steel industry classification
Industry- Product category
- Steel Manufacturing
- NAICS
- Iron and Steel Mills and Ferroalloy Manufacturing (331110)
- SIC
- Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310)
- akta.pro primary industry
- Electric Arc Furnace (EAF) Steelmaking (Incl. DRI/HBI-Based) (IMAKABAB)
- akta.pro secondary industries
- Construction & Demolition (C&D) Metal Recycling (Structural Steel, Rebar, Roofing, Wire) (IMAKAMAF), Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE), Steel Plate, Sections & Welded Assemblies (IMADACAD)
Keywords
Where Watani Steel is headquartered
LocationHeadquarters
- HQ city
- Riyadh
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices2 records
Markets served
Watani Steel business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D
Revenue model
- Steel Billet Sales: Watani Steel manufactures and sells steel billet (semi-finished iron blocks) as raw material for rolling mills. The company produces billet through recycling iron and steel scraps using magnetic induction furnaces.
- Rebar (حديد التسليح) Sales: Production and sale of reinforcement steel bars (rebar) in various sizes (10-32mm) for the construction industry. Rebar is a core construction material sold to contractors and builders.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Watani Steel product offering
Product offeringCore offering
Watani Steel is a Saudi Arabian steel manufacturer that produces steel billet and rebar for the construction and infrastructure sectors. The company operates magnetic induction furnaces to melt iron and steel scrap sourced from recycling, then casts and rolls the output into finished steel products supplied primarily to construction companies and rolling mills.
Product overview
Watani Steel is a Saudi Arabian steel manufacturing company that produces two main products: Steel Billet (semi-finished iron steel blocks with square intersection) and Rebar (reinforcement steel bars in various sizes from 10mm to 32mm). The company operates as a single-product-portfolio manufacturer where billet serves as the input raw material for producing rebar and other construction steel products.
Differentiator
Problem solved
Functional benefit
Products and services
- Steel Billet
- Rebar (Reinforcing Steel Bar)
Companies that use Watani Steel
Customer profileSegments2 records
Ideal customer profiles2 records
Watani Steel technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Watani Steel partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor.
- MadarminorListed as a success partner of Watani Steel. Madar appears to be a strategic partner in the company's ecosystem.
- MASDARminorListed as a success partner of Watani Steel. MASDAR appears to be a strategic partner in the company's ecosystem.
- MFSIminorListed as a success partner of Watani Steel. MFSI appears to be a strategic partner in the company's ecosystem.
- ArtarminorListed as a success partner of Watani Steel. Artar appears to be a strategic partner in the company's ecosystem.
- SHRIEFminorListed as a success partner of Watani Steel. SHRIEF appears to be a strategic partner in the company's ecosystem.
- Bawan MetalminorListed as a success partner of Watani Steel. Bawan Metal appears to be a strategic partner in the company's ecosystem.
- AslakminorListed as a success partner of Watani Steel. Aslak appears to be a strategic partner in the company's ecosystem.
- Bin YamaniminorListed as a success partner of Watani Steel. Bin Yamani appears to be a strategic partner in the company's ecosystem.
Scale indicators2 records
Recent moves7 records
Expansion highlights5 records
Watani Steel competitors and assessment
Company assessmentBroad incumbents
- ArcelorMittal: Global steel incumbent with significant rebar and long-products operations across multiple geographies, including Middle East exposure. Comparable in product mix, though ArcelorMittal's portfolio spans flat products, automotive, and mining — far broader than Watani Steel's focused rebar/billet offering.
- Nucor Corporation: Largest EAF-based steelmaker in North America, with a dominant rebar and structural steel portfolio. Comparable in production technology (EAF/scrap recycling) and end-product focus, though operating at vastly greater scale and geographic breadth.
- Tata Steel: Global integrated and EAF steel producer with substantial rebar and long-product operations in India, Europe, and Southeast Asia. Comparable in rebar end-product focus, though far larger and more diversified across geographies and product lines.
Direct peers
- Al Rajhi Steel: Saudi steel manufacturer producing rebar and related construction steel products for the domestic market. Direct competitor in Saudi rebar supply, with family-ownership characteristics similar to Watani Steel.
- Hadeed (Saudi Iron and Steel Company): SABIC-owned Saudi producer of rebar, wire rod, and other long products, headquartered in Jubail. The closest domestic competitor to Watani Steel, serving the same Saudi construction customers with an overlapping rebar portfolio.
- Emirates Steel Arkan: UAE-based integrated steel producer manufacturing rebar and long products for the Gulf construction market. Directly comparable to Watani Steel in product mix (rebar), Gulf-region customer base, and EAF/scrap-based steelmaking — though at substantially larger scale.
- Al Ittefaq Steel Products Company (ISP): Saudi-based integrated steel producer of rebar, wire rod, and billets. Competes with Watani Steel across the same domestic customer base and overlapping long-product portfolio.
Regional players
- Qatar Steel Company (QASCO): Qatar's primary integrated steelmaker producing rebar and billets for Gulf-region construction. Comparable in product mix and GCC customer base, though serving primarily Qatar and adjacent markets rather than competing directly in Saudi Arabia.
- Ezz Steel: Egypt's largest steel producer and a leading MENA rebar and long-products manufacturer. Comparable product mix (rebar, billet) and regional customer base across the Middle East and North Africa.
- Suez Steel Company: Egyptian rebar and billet producer serving MENA construction markets. Directly comparable in product portfolio and EAF-based scrap-melting production route to Watani Steel.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Watani Steel social profiles
Digital presenceWatani Steel financial estimates
Financial estimateRevenue estimate
Valuation estimate
Watani Steel leadership team
Management profileNumber of profiles
Profiles6 records
Watani Steel funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Watani Steel M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Watani Steel
What does Watani Steel do?
Watani Steel is a Saudi Arabian steel manufacturer that produces steel billet and rebar for the construction and infrastructure sectors. The company operates magnetic induction furnaces to melt iron and steel scrap sourced from recycling, then casts and rolls the output into finished steel products supplied primarily to construction companies and rolling mills.
Is Watani Steel a public or private company?
Watani Steel is a public company. It is classified as public and is currently operating.
When was Watani Steel founded?
Watani Steel was founded in 2021. It employs 101 to 250 people.
Where is Watani Steel based?
Watani Steel is headquartered in Riyadh, Saudi Arabia, in the Middle East region.
How does Watani Steel make money?
Two revenue lines are on record. Steel Billet Sales are the primary driver. The others are rebar (حديد التسليح) Sales.
Who are Watani Steel's main competitors?
Broad incumbents on record are ArcelorMittal, Nucor Corporation and Tata Steel. Direct peers are Al Rajhi Steel, Hadeed (Saudi Iron and Steel Company), Emirates Steel Arkan and Al Ittefaq Steel Products Company (ISP). Regional players are Qatar Steel Company (QASCO), Ezz Steel and Suez Steel Company.
Does Watani Steel have an API?
No public API is recorded for Watani Steel.
What industry is Watani Steel in?
Watani Steel's product category is Steel Manufacturing. Its primary akta.pro industry code is IMAKABAB, Electric Arc Furnace (EAF) Steelmaking (Incl. DRI/HBI-Based), with a secondary code of IMAKAMAF, Construction & Demolition (C&D) Metal Recycling (Structural Steel, Rebar, Roofing, Wire). Its NAICS code is 331110 and its SIC code is 3310.