Saudi Arabia ensures aluminium industry’s development by signing projects worth US$11.4 billion

Saudi Arabia’s Royal Commission for Jubail and Yanbu has attested to five investment calls worth SR43 billion (US$11.4 billion) approximately for the construction of major industrial projects in the Arabian cities of Yanbu and Ras Al Khair.

The signing of these deals was accomplished under the pretext of the International Mining Conference, housed at the King Abdulaziz International Conference Center in Riyadh.

The agreement also laid provisions for the Red Sea Aluminium Industrial Company to acquire leased industrial land in Yanbu Industrial City to constitute a unit for the safe smelting and rolling of aluminium and its alloys. The factory shed would also be used for drawing, purifying and casting, alongside the casting of non-ferrous metals, as the Royal Commission mentioned in a statement.

The project has been estimated to amount to up to 7.03 million sq m in area with a massive investment of SR38.168 billion. The initiative will propagate 5,517 new employment opportunities in the region. The mining infrastructure projects would also get a calculated jolt through a mining ore distribution port, which has been planned to be a strategic gateway to hook Riyadh’s interest in international trade.

The second agreement signed was with the EV Metals Company (EVM) that also dictates the leasing of industrial lands to formulate a secure compound for the production of high-purity chemicals needed for active materials in the cathode, often rechargeable for lithium-ion batteries used in electric vehicles and renewable energy storage systems.

The second project will require an investment of SR3.375 billion for the construction of a 1.27 million sq m area facility, the commission unveiled.

Other than these two major agreements, the Royal Commission in Ras Al Khair Industrial City also signed three investment deals at the event.

The first among the three was signed with Saudi Holding Company for Conversion Industries, which assures the identification of 157,000 sq m of land to develop and run a factory for aluminium foil and roll production in Ras Al Khair Industrial City. This will be of intense importance as the facility will use raw materials from Ma’aden.

The third project has been estimated to require an investment of SR1.3 billion since it will be providing great value to the national and global market, dispersing more than 350 new jobs, as the Royal Commission claimed.

The Royal Commission has successfully signed a deal with Tamouh Development and Investment Company, with the intention of building a 130,000 sq m aluminium plant with a major investment of SR474 million.

This latest industrial project will ensure the production of high-density aluminium fluoride and generate more than 127 employment opportunities.

Lastly, an agreement was signed with the Petroleum Protection Services and Construction Company for selecting a 10,000 sq m area to formulate a ready-made concrete factory for use in marine construction.

The above project would need an estimated SR5 million in investment so that it can precisely support the ports and marine enterprises, opening a void for 75 new jobs.