We provide an enabling environment for value-added industries

The CEO of the Royal Commission in Ras Al-Khair, Ahmed Mohamed Hassan, said that five agreements were signed for mining industries in the industrial cities of Yanbu and Ras Al-Khair for mining industries, with a value of 43 billion riyals.

Hassan confirmed in an interview with Al-Arabiya, during the International Mining Conference in Riyadh, that the Royal Commission in Ras Al-Khair provides a distinctive and enabling environment for value-added industries, due to its contribution to the growth of employment opportunities and quality jobs, in addition to the effective economic contribution and increasing the Kingdom’s share in the economic contribution. at the global level.

The agreements included the signing of the Royal Commission in Yanbu two investment agreements, the first with the “Red Sea Aluminum Industrial Company” to establish a factory project for smelting and “rolling” aluminum, in addition to casting non-ferrous metals, to contribute to filling the needs of the local, regional and global market, and the project area reached 703.8 hectares. With an investment size of 38.17 billion riyals.

The second agreement is with the “EV Metals” company (EVM), 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 cars and renewable energy storage. The project area is 127 hectares, with an investment volume of 3.37 billion riyals.

While the Royal Commission in Ras Al-Khair City for Mining Industries signed 3 investment agreements, the first with the “Saudi Manufacturing Industries Holding Company”, to allocate an area of ​​157 thousand square meters to establish and operate a factory for the production of aluminum foil and coils in Ras Al-Khair City for Mining Industries, as the project will become an added value for its use of materials The initial investment is from Ma’aden, and it serves the local and international markets, with a total investment of 1.281 billion riyals, and it is expected to provide more than 350 job opportunities.

An agreement was also signed with the “Tamouh Development and Investment Company” to allocate a land of 130,000 square meters to establish and operate a factory for the production of high-density aluminum fluoride, with an investment value of 474 million riyals, and it will provide more than 127 job opportunities.

The third agreement was signed with the “Services and Construction Company for Petroleum Protection” to allocate a site with a total area of ​​10 thousand square meters, to establish and operate a ready-mixed concrete plant for marine uses, which will support the ports and marine industries sector with an investment size of 5 million riyals and will provide 75 job opportunities.