The Royal Commission for Jubail and Yanbu in Saudi Arabia has inked five agreements totaling more than $11.4 billion for the development of significant industrial projects in the Saudi cities of Ras Al Khair and Yanbu. The agreements were signed on the sidelines of the International Mining Conference, which was hosted at Riyadh’s King Abdulaziz International Conference Center.
According to the Royal Commission, these include one with the Red Sea Aluminium Industrial Company in connection with the leasing of industrial land in Yanbu Industrial City to establish a factory project for smelting and rolling aluminum and its alloys, drawing, purifying, and casting, as well as casting non-ferrous metals.
The project is anticipated to provide 5,517 job opportunities
The project is anticipated to provide 5,517 job opportunities while delivering a significant boost to mining infrastructure projects via a mining ore distribution port, which will serve as a critical gateway to global markets.
The second agreement was with EV Metals (EVM), which involves leasing industrial land to establish a complex for the production of high-purity chemicals required for active materials in the cathode that can be recharged for lithium-ion batteries used in electric vehicles and renewable energy storage.