ARAR — Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer has confirmed that the Northern Border region contains 25% of Saudi Arabia’s mineral wealth, with a total value of SR1.2 trillion.
Eng. Al-Mudaifer made the remarks while participating in the Northern Border Investment Forum 2023 in Arar. He pointed out that the competitive advantage of the region is great with the presence of phosphate.
Saudi Arabia has invested more than SR120 billion in infrastructure to support and make projects successful, he said.
He also added that the Kingdom is working on studying the feasibility of the Phosphate 4 and Phosphate 5 projects, with a value of approximately SR80 billion.
Eng. Al-Mudaifer said that the factories in the Northern Border region will be the basis for building a modern industry with components and investments that will exceed SR220 billion before the end of 2035.
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