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Hilal
al-tuwairqi heads one of the largest privately-owned
steel manufacturers in the entire Gulf region.
Mr. Al-Tuwairqi comments on his company’s
quest to become one of the the 10 largest
industrial companies in Saudi Arabia.
The present
upsurge in general economic activity in
the country and the boom in the construction
sector are providing new avenues for investments
in the steel sector. What is your opinion
of the current climate?
Like in the
70s, the present boom is because of high
oil prices. The cash is available, the resources
are available, and the opportunities are
available – but they will not last
forever. The ideal situation may only be
around for four or five years. Saudi Arabia
is far more open now than it was then, and
there is space for development with the
expertise of international companies. To
produce steel you need gas. With Saudi Arabia’s
low gas prices, costs can be lowered considerably.
The situation is perfect for producing steel
for local and international consumption.
From modest
beginnings as a trading establishment 25
years ago, Al-Tuwairqi Group is now ranked
among the top 50 companies in the kingdom.
To what do you attribute your success?
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“We went from
knowing nothing about steel to becoming
the steel masters”
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The key is to
know how to take advantage of an opportunity
when it arises. In 1989, we acquired the
license for a steel factory – or rather,
a hangar with no boundaries and an incomplete
5-ton furnace. We looked for experts in
the steel business, and by 1991 we were
producing steel angles. We began upgrading
day by day, focusing on the steel mill.
We expanded the land, brought water in,
provided electricity and a building for
accommodation. We went from knowing nothing
about steel to becoming the steel masters.
Today we are producing one million tons
a year.
Al-Tuwairqi
Group’s business strategy is geared
toward maintaining high product quality,
enhancing productivity, offering competitive
prices and speeding up delivery time. What
drives you personally?
Life is short.
Human beings are put here to do something.
While you have the right to enjoy yourself
in the proper way, to have a family, you
have to look to the next generation and
leave something behind.
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