The Investment Fund signs a tripartite agreement to localize the aluminum industry in Saudi Arabia
Saw the fifth version of International Mining Conference In Riyadh, a tripartite memorandum of understanding was signed between the Public Investment Fund, the Red Sea Aluminum Holding Company, and a group "Shandong"; This is with the aim of building an integrated system for the aluminum industry and localizing its advanced technologies to support supply chains and sustainable economic growth.
A strategic partnership to develop the aluminum system in the Kingdom
According to the partnership agreement, the Public Investment Fund acquired a stake of up to 25% in the Red Sea Aluminum Industrial Company, while cooperation will take place with the Shandong Innovation Group to establish a new, integrated industrial complex for the aluminum industry in the city of Yanbu.
The agreement aims to manufacture quality products that include Industry and Mineral Resources The fifth edition of the International Mining Conference was held during the period from January 13-15, 2026, in Riyadh, with the participation of 100 countries and 70 international organizations, to discuss the priorities of international cooperation in supply chains, infrastructure financing, capacity building, and enhancing transparency and sustainability in the sector.
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