21 Jumada I 1445 - 5 December 2023
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Eye of Riyadh
Business & Money | Saturday 11 November, 2023 1:10 am |

Saudi Arabia has ample opportunities with African states: Minister

Saudi Arabia has ample opportunities for cooperation with Arab and African states, especially in the field of mining which is a vital sector for both sides, Bandar Alkhorayef, Minister of Industry and Mineral Resources, said on the sidelines of the Saudi-Arab-African Economic Conference.




Metals are important. There is a growing need for metals in renewable energy, zero carbon or industry and technology. Work is ongoing with African states to share information and experience in geological survey and other industrial processes.




Alkhorayef pointed to Manara Minerals Investment Co. (Manara), a new venture between the Saudi Arabian Mining Company (Ma'aden) and the Public Investment Fund (PIF), which targets investment in mining in African countries. The ministry works on seizing available opportunities and facilitating the mission of Manara among other companies operating in Africa.




Elsewhere, Alkhorayef said the car manufacturing facility situated at King Abdullah Economic City (KAEC) on the Kingdom's Red Sea coast will facilitate work in this field. Saudi Arabia will cooperate with Egypt and Morocco in the car manufacturing industry.




On logistics, he added that three handling regions were identified in Africa, which will be used to access the largest number of countries in the continent in transportation, distribution, storage and some simple industries.


Moreover, Africa is a key part in the pharmaceuticals and vaccine sector, the minister added.




Source: Argaam 


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