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 Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Resources

16 Sep 2025

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Real Estate

16 Sep 2025

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..