The financial echelons of Saudi Arabia are currently abuzz with anticipation as the kingdom's sovereign wealth behemoth, the Public Investment Fund, contemplates a pivotal maneuver, the acquisition of a significant interest in a prominent Saudi steel manufacturer, reports Kallanish.Discussions are underway as the PIF engages with a rebar producer based in Riyadh, an establishment situated in the tier-two classification of steel mills. This potential partnership, if realized, would witness the PIF stepping into the corporate fold, whilst retaining the incumbent managerial apparatus for seamless business operations. This intelligence, gleaned from insiders hailing from both the steel market and the financial sphere, intimates at the strategic musings of the PIF.The target of this maneuver stands as a steelmaker possessing a rebar mill of considerable magnitude, clocking a production capacity of 350,000 metric tons annually, located at the pivotal locale of Riyadh. Moreover, the steel manufacturer boasts an electric arc furnace billet plant, nestled on the western fringes of the kingdom, harboring a prodigious capacity of 850,000 metric tons per year.Within the framework of Saudi Arabia's grandiose giga projects, the division between endeavors nurtured by direct PIF ownership and those funded via governmental conduits emerges. Anchored by a colossal asset pool valued at $500 billion, the PIF orchestrates a dual symphony of ownership and financing. This harmonious endeavor, poised to span till 2025, bears a financial trajectory charted to reach a cumulative investment of $1 trillion.Gauging the colossal scope of the impending giga projects, the voracious appetite for rebar, a pivotal construction material, becomes glaringly evident. It's within this backdrop that PIF casts its gaze upon securing a supply chain for this essential component, either through its direct entities or via subsidiary conduits.