Vedanta's $2 Billion Investment Boosts Saudi Copper Ambitions Aligned with Vision 2030

Vedanta Ltd plans a USD 2 billion investment in Saudi Arabia's copper sector, including a smelter and refinery. This aligns with Vision 2030, aiming to boost the minerals sector's GDP contribution significantly. Operations are to begin by FY26, with a focus on job creation and copper supply self-sufficiency.

Vedanta Ltd has announced plans to invest USD 2 billion in Saudi Arabia, targeting substantial copper projects to bolster the Kingdom's industrial sector. This move falls in line with Saudi Arabia's Vision 2030, a strategy to exploit the nation's estimated USD 1.3 trillion in mineral resources.

The company's projects, which include a substantial copper smelter and refinery, as well as a copper rod initiative, are set for Ras Al Khair Industrial City. The initiative is expected to add considerable value to the local economy, promising to create thousands of new jobs and support hundreds of downstream industries.

Scheduled to commence commercial production by the fourth quarter of FY26, Vedanta's extensive commitment marks a step toward reducing Saudi Arabia's reliance on imported copper, moving the Kingdom closer to a self-sufficient supply chain.

(With inputs from agencies.)