Saudi Arabia does not mind investing more into aluminium projects

A report states that Saudi Arabia aims to double its investments in the aluminium industry to become one of the top ten aluminium producers in the world.

So far, the country has infused at least $12 billion into various aluminium projects to expand its production capacity. In early 2023, Saudi Arabia’s Royal Commission for Jubail and Yanbu approved five investment calls worth SR43 billion (US$11.4 billion) for the construction of major industrial projects in the Arabian cities of Yanbu and Ras Al Khair.

The investment made a provision for the Red Sea Aluminium Industrial Company to acquire leased industrial land in Yanbu Industrial City to make a plant for safe smelting and rolling of aluminium and its alloys. The plant would also be used for drawing, purifying and casting, alongside the casting of non-ferrous metals.

Khaled Al-Mudaifer, Undersecretary of the Industry and Mineral Resources Ministry for minerals, told the London-based Saudi daily Asharqalawsat that the Gulf kingdom is giving a lot of priority to the aluminium industry, considering its unstoppable role in renewable energy, electric vehicle, and aviation industries.

Khaled Al-Mudaifer also said, “The mining strategy in Saudi Arabia was launched in 2018 and we are committed to enforcing this strategy…large projects have been launched as part of this strategy and more are in the pipeline.”