Vedanta plans $2B investment in Saudi Arabia

  • 📰 MiningOnline
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Vision 2030 أخبار

Vedanta plans $2B investment in Saudi Arabia
مصر أحدث الأخبار,مصر عناوين

Copper smelter and refinery, and rod project planned

Vedanta has inked an agreement with the Saudi government to invest US$2 billion in copper projects.The diversified miner's copper arm, Vedanta Copper International, has signed a memorandum of understanding with Saudi ministries to invest $2 billion in copper projects in the country.Vedanta will invest in a 400,000tpa smelter and refinery, and a 300,000tpa copper rod project in the Ras Al Khair Industrial City located in Saudi Arabia's Eastern Province.

The government aims to raise the minerals sector's GDP contribution from $17 billion to $64 billion by 2030. Saudi copper demand currently stands at 365,000tpa and is projected to more than double by 2035."Our projects will enhance the Kingdom's self-reliance in the copper supply chain," Chris Griffith, chief executive of Base Metals at Vedanta, said. "Our projects will enhance the Kingdom's self-reliance in the copper supply chain.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

MiningOnline /  🏆 117. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين