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Asharq Al-Awsat

Business

Asharq Al-Awsat

Saudi Arabia to Attract Investments Worth $32 Bln in Mining, Minerals Sector

SPA Mining Bandar Alkhorayef Saudi Arabia

A view shows vehicles driving on a street in Riyadh, Saudi Arabia. Reuters

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said Friday that the ministry has a goal to attract investments worth $32 billion to its mining and minerals sector through nine new projects, state news agency SPA reported.

The projects are aimed at supporting supplies of mineral products to local and international markets, according to SPA.

Alkhorayef added that the ministry is currently studying 145 applications for exploration licenses from foreign companies, SPA said.

It quoted the minister as saying that the projects would create over 14,500 jobs.

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