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Saudi Arabia’s Ministry of Industry and Mineral Resources has announced that it has secured $6 billion in funding for a steel plate mill complex and an electric vehicle battery metals plant as part of plans to attract $32 billion in mining investment.
The nine projects include a $4 billion steel plate mill complex
The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a ‘green’ flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors. Both projects are already underway, as is a $2 billion EV battery metals plant.
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