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Wed 10 Dec 2008 06:20 PM

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Rich List-Mohammed Al Rajhi

Rich List-Mohammed Al Rajhi

Mohammed and his three brothers each own a large stake in Al Rajhi Bank, Saudi's Islamic banking behemoth.

Mohammed also heads up one of the country's largest steel manufacturing companies.  The family holding company, Mohammed Abdulaziz Al Rajhi & Sons, has various steel and real estate interests. In September 2008 the firm revealed plans to IPO to strengthen its foothold as a major industrial firm in the kingdom, appointing Samba Capital as lead manager and financial advisor for the scheme.

Established over 40 years ago, Al Rajhi is a family business which has achieved strong growth through six key industrial arms that run more than 26 factories for producing several vital products.

The industrial conglomerate owns three main steel plants, one of them is located in Riyadh, and the two located in Jeddah. They have a production capacity of over 1 million tonnes per annum, in reinforced steel, commercial iron, square pipes and steel blocks.

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