Ministry of Industry to launch 35 renewable energy projects in 2024: Minister

Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects in 2024, Asharq News reported, citing Minister Bandar AlKhorayef.

The coming year will witness the execution of a big number of projects as well as investments, AlKhorayef added on the sidelines of the annual ceremony of the National Industrial Development and Logistics Program (NIDLP).

The ministry is committed to attracting investments, as Saudi Arabia became a major center for various investments while the energy sector competitively lures mega projects.

Geological surveys were ongoing in the mining sector and new mining sites were being launched. In the industrial field, work was under way to open new businesses, empower others such as the automotive industry to make it an integrated business, in addition to equipment, renewable energy and the pharmaceutical industry.

There were no obstacles to providing funds for the implementation of the projects. Rather, some projects attract private sector entities, such as infrastructure projects, industrial cities and prefabricated factories. Therefore, the Kingdom’s investments in previous years would attract private sector investments in the coming years.