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.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..