Latest news with #AlKhorayef
Saudi Gazette
6 days ago
- Business
- Saudi Gazette
Saudi minister explores strategic industrial and mining partnerships with top Russian firms
Saudi Gazette report MOSCOW — Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef held a series of high-level meetings with executives from leading Russian industrial and mining companies during his official visit to the Russian Federation, aimed at expanding investment partnerships and exploring new opportunities in mining and manufacturing. AlKhorayef met with the CEO of Alrosa, the world's largest diamond mining company, where they discussed opportunities for collaboration in mineral production and processing. The minister highlighted Saudi Arabia's enabling investment environment for mining ventures. He also held a strategic meeting with the CEO of VSMPO-AVISMA, the world's largest titanium producer, to discuss knowledge exchange and industrial cooperation. The discussions explored joint efforts in producing and processing titanium for use in aviation, automotive, and other advanced industries. Saudi Arabia currently produces around 16,000 tons of titanium sponge annually, roughly 10% of global output, alongside 500,000 tons of titanium slag, primarily in a separate meeting with the CEO of Nordgold, a major gold mining firm, AlKhorayef reviewed Saudi Arabia's upcoming 2025 mineral exploration opportunities, covering 50,000 square also discussed sustainable mining practices, advanced technologies, and knowledge minister also met with the Chairman of the Russian Aluminum Association, which oversees more than 80% of Russia's aluminum value reiterated the Kingdom's ambition to become a global and regional hub for aluminum Arabia currently produces 1.8 million tons of primary aluminum annually, with plans to scale up to 3 million Kingdom is targeting increased domestic demand across key sectors like aviation, packaging, automotive, and Russia's role as the second-largest aluminum producer after China, the discussions underscored potential joint investment in the full aluminum value invited Russian mining leaders to participate in the 5th edition of the Future Minerals Forum, scheduled for January 2026 in Riyadh, which positions Saudi Arabia as a leader in shaping the future of the global mining Arabia is estimated to hold $2.5 trillion worth of untapped mineral resources, including gold, copper, phosphate, and rare earth Kingdom has overhauled its mining investment regulations to attract local and international investors. Under Vision 2030, the mining sector's contribution to GDP is expected to rise from $17 billion in 2024 to $75 billion by 2030, making it the third pillar of Saudi the industrial sector, AlKhorayef held talks with executives from major Russian companies, including United Confectioners Limited—the largest confectionery producer in Eastern discussed investment opportunities in food manufacturing and modern food production Arabia's food market is the largest in the Middle East, valued at SR184 billion in 2023 and projected to reach SR248 billion by Kingdom is actively seeking over SR78 billion in industrial food investments through the National Industrial like the newly launched Jeddah Food Cluster, the world's largest specialized industrial food complex, reinforce Saudi Arabia's role as a regional leader in food also met with the Chairman of Salavat Steklo, one of Russia's largest manufacturers of float glass, to explore industrial cooperation and investment opportunities in the materials sector. The talks emphasized the Kingdom's robust incentives for industrial investors.
Saudi Gazette
07-05-2025
- Business
- Saudi Gazette
Alkhorayef inaugurates 'Industrial Day' at Airbus Helicopters in France
Saudi Gazette report MARIGNANE — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef inaugurated the "Industrial Day" event held at the Airbus Helicopters headquarters in Marignane, France. The event brings together Airbus suppliers and Saudi aviation companies to explore cooperation opportunities in the aviation industry and strengthen investment partnerships between the two sides. AlKhorayef emphasized that the aviation industry is one of the most prominent advanced industrial sectors, the national industrial strategy is focusing on localizing and developing, to diversify the national economy in line with the goals of the Kingdom's Vision 2030. Saudi Arabia's ambitions to accelerate the localization of the aviation sector, empower private sector, strengthen international partnerships, attract promising investments, leverage Saudi Arabia's strategic assets, including its geographic location, competitive energy prices, rich mineral resources, and young talent, were all discussed at the meeting. AlKhorayef called on Airbus Helicopters and its network of suppliers to expand cooperation with Saudi Arabia, achieving the shared vision of building a sustainable and competitive aviation system. Saudi Arabia has identified several sub-sectors within the aviation industry that offer unique investment opportunities valued at $2.67 billion. These sectors include aircraft structure maintenance, aircraft component repair, and drone manufacturing. The Kingdom seeks to double its industrial GDP from $88 billion to $377 billion by 2035, in accordance with the National Industrial Strategy, which places advanced manufacturing, including the aviation sector, at the core of its industrial transformation. The Saudi minister's inauguration of the "Industrial Day" event comes during his current official visit to France, which aims to enhance industrial and mining cooperation and explore joint investment opportunities in promising industrial sectors, most notably aviation and food. Saudi Arabia and France cooperate in a number of sectors, such as energy, water and waste management, sustainable cities, transportation, civil aviation, mobility solutions, the digital economy, and health.
Zawya
21-04-2025
- Business
- Zawya
Saudi minister concludes Indonesia visit with new partnerships in mining and industrial sectors
JAKARTA — Minister of Industry and Mineral Resources Bandar Al Khorayef has concluded an official visit to Indonesia aimed at advancing bilateral trade and fostering deeper cooperation across the mining and industrial sectors. The visit included a series of high-level meetings with senior Indonesian officials, notably Agus Gumiwang Kartasasmita, Minister of Industry; Bahlil Lahadalia, Minister of Energy and Mineral Resources; Rosan Perkasa Roeslani, Minister of Investment and Downstream Industry; Erick Thohir, Minister of State-Owned Enterprises; Hashim S. Djojohadikusumo, Special Envoy for Climate and Energy Transition; and Sukatmo Padmosukarso, Executive Director of Indonesian Exim Bank. Discussions focused on expanding trade and investment opportunities, accelerating downstream industrial development, and leveraging expertise in mining and manufacturing to support economic diversification in both nations. Al Khorayef also met with leading Indonesian business figures and corporations, including pharmaceutical producer BioPharma, food and beverage giants Mayora Indah and Indofood Sukses Makmur, and mining leaders such as Mining Industry Indonesia (MIND ID) and PT Vale Indonesia. These engagements explored joint ventures, technology transfer, and knowledge-sharing opportunities. The Saudi delegation visited major industrial and research institutions, including MIND ID and PT Vale headquarters, the National Research and Innovation Agency (BRIN), and Pusat Industri Digital Indonesia 4.0. Al Khorayef chaired a workshop for mining investors and a roundtable with private sector leaders focused on industrial partnerships. Key outcomes of the visit included the signing of a Memorandum of Understanding (MoU) between Saudi Arabia and Indonesia to strengthen collaboration in critical minerals development and processing—particularly nickel, cobalt, and copper. A second MoU was signed between Saudi EXIM Bank and its Indonesian counterpart to boost trade and exports in the industrial and mining sectors. Both countries are pursuing ambitious transformation agendas. Indonesia, Southeast Asia's largest economy, ranked 12th globally in Manufacturing Value Added (MVA) in 2023, reaching $255 billion. Saudi Arabia, ranked as the world's second-fastest-growing economy by the IMF in 2025, continues to advance its Vision 2030 goals, with major emphasis on industrial expansion and mineral exploitation—estimated at $2.5 trillion in untapped resources. Bilateral trade between the two countries remains strong, with non-oil trade reaching $3.18 billion in 2023. The two nations have signed agreements in renewable energy, infrastructure, halal production, and youth development, and continue to align strategically in developing clean energy supply chains and industrial resilience.
Saudi Gazette
18-04-2025
- Business
- Saudi Gazette
Saudi minister concludes Indonesia visit with new partnerships in mining and industrial sectors
Saudi Gazette report JAKARTA — Minister of Industry and Mineral Resources Bandar Al Khorayef has concluded an official visit to Indonesia aimed at advancing bilateral trade and fostering deeper cooperation across the mining and industrial sectors. The visit included a series of high-level meetings with senior Indonesian officials, notably Agus Gumiwang Kartasasmita, Minister of Industry; Bahlil Lahadalia, Minister of Energy and Mineral Resources; Rosan Perkasa Roeslani, Minister of Investment and Downstream Industry; Erick Thohir, Minister of State-Owned Enterprises; Hashim S. Djojohadikusumo, Special Envoy for Climate and Energy Transition; and Sukatmo Padmosukarso, Executive Director of Indonesian Exim Bank. Discussions focused on expanding trade and investment opportunities, accelerating downstream industrial development, and leveraging expertise in mining and manufacturing to support economic diversification in both nations. Al Khorayef also met with leading Indonesian business figures and corporations, including pharmaceutical producer BioPharma, food and beverage giants Mayora Indah and Indofood Sukses Makmur, and mining leaders such as Mining Industry Indonesia (MIND ID) and PT Vale Indonesia. These engagements explored joint ventures, technology transfer, and knowledge-sharing opportunities. The Saudi delegation visited major industrial and research institutions, including MIND ID and PT Vale headquarters, the National Research and Innovation Agency (BRIN), and Pusat Industri Digital Indonesia 4.0. Al Khorayef chaired a workshop for mining investors and a roundtable with private sector leaders focused on industrial partnerships. Key outcomes of the visit included the signing of a Memorandum of Understanding (MoU) between Saudi Arabia and Indonesia to strengthen collaboration in critical minerals development and processing—particularly nickel, cobalt, and copper. A second MoU was signed between Saudi EXIM Bank and its Indonesian counterpart to boost trade and exports in the industrial and mining sectors. Both countries are pursuing ambitious transformation agendas. Indonesia, Southeast Asia's largest economy, ranked 12th globally in Manufacturing Value Added (MVA) in 2023, reaching $255 billion. Saudi Arabia, ranked as the world's second-fastest-growing economy by the IMF in 2025, continues to advance its Vision 2030 goals, with major emphasis on industrial expansion and mineral exploitation—estimated at $2.5 trillion in untapped resources. Bilateral trade between the two countries remains strong, with non-oil trade reaching $3.18 billion in 2023. The two nations have signed agreements in renewable energy, infrastructure, halal production, and youth development, and continue to align strategically in developing clean energy supply chains and industrial resilience.
Saudi Gazette
16-04-2025
- Business
- Saudi Gazette
Saudi Arabia, Indonesia strengthen industrial and mining ties with high-level meetings and MoU signing
JAKARTA — Saudi Minister of Industry and Mineral Resources, Bandar AlKhorayef, concluded a high-level visit to Jakarta with a series of meetings aimed at bolstering bilateral cooperation in the industrial and mining sectors. During his visit, AlKhorayef met with Indonesia's Minister of State-Owned Enterprises, Erick Thohir, to explore avenues for joint investment, industrial integration, and collaboration in strategic sectors including petrochemicals, mining, and automotive manufacturing. AlKhorayef emphasized the Kingdom's commitment to fostering a competitive and investor-friendly environment, underpinned by Saudi Arabia's National Industrial Strategy. Thohir echoed the importance of deepening ties between the two nations and extended his congratulations to Saudi Arabia on its successful bid to host the 2034 FIFA World Cup, affirming Indonesia's support for the historic event. AlKhorayef also held talks with Sukatmo Padmosukarso, Executive Director of Exim Bank Indonesia, alongside Eng. Saad Alkhalb, CEO of Saudi EXIM Bank, and Saudi Ambassador Faisal Alamudi. The meeting culminated in the signing of a Memorandum of Understanding between the two banks, aiming to enhance trade financing and boost joint investment opportunities in industry and mining. Indonesia, Southeast Asia's largest economy, ranked 12th globally in Manufacturing Value Added (MVA) with $255 billion in 2023, while Saudi Arabia's MVA is projected to reach $87.1 billion by 2025. Both nations see industrial and mining development as central pillars of economic diversification and transformation. — SG
