Arab International Aluminium Conference (Arabal) held recently in Riyadh presented many crucial information, including the global aluminium demand set to rise by 20 to 30 per cent over the next seven years.
Engineer Khalid bin Saleh Al Mudaifer, the Vice Minister of Industry and Mineral Resources for Mining Affairs of the Kingdom of Saudi Arabia, communicated at Arabal that Saudi Arabia, home to some of the largest aluminium production facilities, would efficiently tap this demand growth and take its aluminium industry a new high.
This aligns with Saudi’s Vision 2030 to establish itself as a key global hub for metal production. The Kingdon possesses all the necessary assets required to achieve this aspiration, such as low energy prices and strategically advantageous geographical location, said the Vice Minister.
He rightly pointed out that Saudi Arabia accounts for approximately 10 per cent of worldwide aluminium production, having abundant mineral wealth estimated at over $1.3 trillion, robust infrastructure, solid global investments, and a well-educated workforce.
"Our mining strategy aims to achieve ambitious goals by 2030, including doubling the production capacity of bauxite and aluminum by two and four times, respectively, and tripling the primary aluminum production capacity," said Engineer Khalid bin Saleh.
While addressing the attendees at Arabal, he also promoted the diverse nature of aluminium and its widespread use in conventional sectors like transportation, construction, and food packaging.
He also underscored the indispensable role of aluminium in driving the global energy transition through applications in renewable energy sources, electric vehicles, and energy storage systems.
The ultimate objective of Saudi Arabia is to etch its name among the top 10 aluminium producers worldwide, for which the Kingdom is ready to invest double to make new projects and expand the existing facilities. So far, Saudi has infused at least $12 billion into various aluminium projects to expand its production capacity.
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