Saudi Arabia converts 60% of high value-added aluminum products: Alkhorayef

Saudi Arabia is betting on becoming a key contributor to the global supply chains and on finding solutions for the challenges they face, thanks to its natural resources, strategic location and human capabilities, Minister of Industry and Mineral Resources Bandar Alkhorayef said.

The Kingdom made a qualitative leap in the car manufacturing industry in a short time. It is also a very important player in the petrochemical sector, he added at the Supply Chains and Logistics Conference 2023.

The minister also revealed that Saudi Arabia has successfully converted more than 60% of aluminum products into high-value products, especially in the automobile industry and aircraft parts.

The ministry is working to transform natural mining materials into high-value industrial products, and not just export raw materials, as the COVID pandemic has shortened the time in building large industrial capabilities within the Kingdom, strengthening local supply chains and achieving self-sufficiency, according to Alkhorayef.

The National Industrial Strategy identified 12 strategic industrial sectors, said the minister, adding there is a clear program for the Kingdom’s participation in the supply chains for each of these sectors.

Alkhorayef also indicated that the industrial and mineral wealth system seeks to maximize the economic benefit from natural resources and transform the Kingdom into a leading industrial power and a global logistics platform.

source : Argaam