Saudi Arabia and Italy are set to enhance their mining relations after meetings in Rome, focusing on sustainable solutions, clean energy, and attracting investments. Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, began his visit by meeting Italy’s Minister of Environment and Energy Security, Gilberto Pichetto Fratin.
The discussions, attended by key officials, highlighted the strategic partnership between the two nations. This initiative aligns with Saudi Arabia’s National Industrial Strategy, aiming to boost industrial and mining cooperation.
Saudi Arabia’s non-oil exports to Italy have increased significantly, reaching SR2.8 billion, with imports from Italy at SR21.8 billion. Alkhorayef emphasized the mutual desire to strengthen this collaboration, highlighting Saudi Arabia’s vast untapped mineral resources, valued at approximately $2.5 trillion.
Alkhorayef also explored opportunities in renewable energy and supply chain integration, encouraging Italian businesses to expand operations in Saudi Arabia. He invited Fratin to attend the International Mining Conference in Riyadh in 2025.
The Italian Ministry of Environment and Energy Security is committed to supporting a low-carbon economy. Meanwhile, Alkhorayef engaged with major Italian and global companies to localize electric vehicle manufacturing and explore cooperation in aviation, shipbuilding, and smart manufacturing.
He discussed transferring advanced automotive technologies with Swiss EV manufacturer Piech and emphasized nationalizing the industry, referencing projects like Lucid and Ceer.
In aviation, plans to localize manufacturing technologies were discussed with Arabian Tiger Holding Co. after acquiring Piaggio Aerospace. Collaboration with Fincantieri in shipbuilding was also explored, covering the entire value chain.
Alkhorayef met with AlmavivA to discuss automation solutions and robotics integration in manufacturing. He also engaged with the Saudi-Italian Business Council, encouraging Italian investments in Saudi Arabia’s promising sectors, particularly in industrial and mining.
