Vedanta plans $2 billion investment in Saudi Arabia copper projects

27 Nov 2024 CW Team

According to the company, this collaboration aligns with Saudi Arabia's Vision 2030 and aims to invest $2 billion in significant copper projects within the Kingdom. The initiatives are designed to support the Kingdom’s ambitious Vision 2030, which seeks to unlock mineral resources valued at approximately $1.3 trillion and increase the minerals sector's GDP contribution from $17 billion to $64 billion by 2030.

Vedanta intends to begin its operations in Saudi Arabia with a 125 KTPA copper rod mill project, requiring an initial investment of $30 million. The company confirmed that all necessary approvals have been secured, land has been acquired, and technology orders have been placed. Work at the project site is expected to commence soon, with commercial production targeted for the fourth quarter of FY26.

Currently, Saudi Arabia’s copper demand stands at approximately 365 KTPA, a figure projected to more than double by 2035. At present, the demand is largely met through imports. Vedanta’s planned copper smelter, refinery, and rod projects will be located in Ras Al Khair Industrial City within the Kingdom.

The company added that recent visits by senior officials from Saudi Arabia’s Ministry of Mines and the National Industrial Development Centre to its operations in India have strengthened the foundation for on-going high-level discussions, which are progressing as planned.

These projects are anticipated to create thousands of jobs, foster the development of downstream industries, and contribute $19 billion to Saudi Arabia’s GDP. Over time, they are also expected to advance the Kingdom’s goal of achieving self-sufficiency in its copper supply chain.

Vedanta announced its plan to invest $2 billion in major copper projects in Saudi Arabia. Vedanta Copper International, a wholly-owned subsidiary of the company, has signed an agreement with Saudi Arabia's Ministry of Investment and Ministry of Industries & Mineral Resources. The agreement outlines the establishment of a greenfield copper smelter and refinery with a capacity of 400 kilo tonnes per annum (KTPA) and a 300 KTPA copper rod project. According to the company, this collaboration aligns with Saudi Arabia's Vision 2030 and aims to invest $2 billion in significant copper projects within the Kingdom. The initiatives are designed to support the Kingdom’s ambitious Vision 2030, which seeks to unlock mineral resources valued at approximately $1.3 trillion and increase the minerals sector's GDP contribution from $17 billion to $64 billion by 2030. Vedanta intends to begin its operations in Saudi Arabia with a 125 KTPA copper rod mill project, requiring an initial investment of $30 million. The company confirmed that all necessary approvals have been secured, land has been acquired, and technology orders have been placed. Work at the project site is expected to commence soon, with commercial production targeted for the fourth quarter of FY26. Currently, Saudi Arabia’s copper demand stands at approximately 365 KTPA, a figure projected to more than double by 2035. At present, the demand is largely met through imports. Vedanta’s planned copper smelter, refinery, and rod projects will be located in Ras Al Khair Industrial City within the Kingdom. The company added that recent visits by senior officials from Saudi Arabia’s Ministry of Mines and the National Industrial Development Centre to its operations in India have strengthened the foundation for on-going high-level discussions, which are progressing as planned. These projects are anticipated to create thousands of jobs, foster the development of downstream industries, and contribute $19 billion to Saudi Arabia’s GDP. Over time, they are also expected to advance the Kingdom’s goal of achieving self-sufficiency in its copper supply chain.

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

Real Estate

29 Jul 2026

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Equipment

29 Jul 2026

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..