Industry

The Minister of Industry and Mineral Resources, His Excellency Mr. Bandar Ibrahim Alkhorayef, emphasized the strong relationship between Saudi Arabia and India in the mining and manufacturing sectors. This partnership is seen as highly feasible, according to reports from a state-run agency. Speaking to Indian business leaders in Mumbai, H.E. Mr. Alkhorayef noted that Saudi Arabia's initiatives, particularly in the...

Saudi Vitrified Clay Pipes Company has entered into a contract with WeOne General Contracting Company to build a new factory for producing high-density polyethylene corrugated and spiral pipes. The Laffan Pipe Factory is expected to be completed in nine months, according to the company's announcement to the Saudi bourse, Tadawul. This SAR16.6 million ($4.42 million) contract assigns WeOne the tasks...

Saudi Arabia's Industrial Growth Boosted by $3.19 Billion Investment Saudi Arabia's Industrial Development Fund has injected SR12 billion ($3.19 billion) into the industrial sector in 2024, according to Industry Minister Bandar Alkhorayef. This funding is part of an effort to enhance the Kingdom's global competitiveness. During the Budget Forum 2024, Alkhorayef emphasized the importance of financing, licenses, and infrastructure as...

Wolffkran Holding, a prominent name in tower crane design and manufacturing, has formed a strategic alliance with Saudi Arabia's Zamil Group Investment Company. This partnership, formalized at a ceremony in Riyadh, gives Zamil a 50% stake in Wolffkran's local business, Wolffkran for Equipment. The agreement builds on prior announcements and highlights both companies' ambition to expand in Saudi Arabia and...

At the 28th World Investment Conference, Saudi Arabia announced nine major investment agreements totaling over SAR35 billion. These agreements underscore the nation's dedication to digital transformation and sustainable growth. The conference, themed “Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities,” is organized by Invest Saudi alongside the World Association of Investment Promotion Agencies. These deals align with Saudi Arabia's...

GlassPoint has announced plans to create the world's largest solar thermal project, Maaden I, in collaboration with Saudi Arabia's mining giant Maaden and Spanish utility Cox. This initiative aims to decarbonize the industrial process heat sector. The project will feature the GlassPoint Ma’aden Technology Showcase (GMTS), marking the first phase in this $1.5 billion venture. It will merge solar heat...

Saudi Arabia is set to advance its industrial sector through a new collaboration with Vedanta Copper International, a branch of India's Vedanta Ltd. The partnership, involving a $2 billion investment, aims to develop copper projects in the Kingdom. This collaboration, established via a memorandum of understanding, supports Saudi Arabia’s Vision 2030 initiative. The vision seeks to diversify and strengthen the...

Saudi Arabia is set to boost its industrial capabilities in manufacturing and mining, according to Minister Bandar Alkhorayef. The goal is to advance into new industries and tackle worldwide issues. During the World Investment Conference in Riyadh, Alkhorayef highlighted the Global Supply Chain Resilience Initiative (GSCRI). This initiative aims to integrate Saudi Arabia into international supply chains, addressing major challenges...

Zain KSA, a leading telecom provider in Saudi Arabia, has successfully acquired the 600 MHz spectrum band during a recent auction by the Communications, Space, and Technology Commission. This acquisition marks a significant step in enhancing the company's 5G Standalone (5G SA) network capabilities. The 600 MHz spectrum is renowned for its ability to improve both urban and rural coverage,...

Gcore, a leader in edge AI solutions, has partnered with technology company Ezditek to establish a high-performance AI infrastructure in Saudi Arabia. This joint venture aims to create an 'AI factory' focused on building, training, and deploying generative AI solutions. The collaboration merges Gcore's expertise in cloud-based AI with Ezditek's proficiency in sustainable data center design. Andre Reitenbach, CEO of...