Saudi Arabia’s Royal Commission for Jubail and Yanbu has signed five agreements worth more than $11.4 billion for the establishment of key industrial projects in the Saudi cities of Ras Al Khair and Yanbu.
The deals were signed on the sidelines of the International Mining Conference held at the King Abdulaziz International Conference Center in Riyadh.
These include one with the Red Sea Aluminum Industrial Company in connection with 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, in addition to casting non-ferrous metals, stated the Royal Commission in its statement.
The project is expected to provide 5,517 job opportunities in a major boost to mining infrastructure projects through a mining ore distribution port, which is a strategic gateway to access global markets.
The second agreement was with EV Metals company (EVM) that involves the leasing of 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 for electric vehicles and renewable energy storage.
