Arab Press

بالشعب و للشعب
Tuesday, Aug 26, 2025

Saudi major to invest more than $13bn to transform mining sector

Saudi major to invest more than $13bn to transform mining sector

Ajlan & Bros Holding Group Abilitii also plans to set up a stock market for mining companies and a minerals trading platform

Saudi-based conglomerate Ajlan & Bros Holding Group Abilitii (ABHGA) plans to invest SR50 billion over the next decade in an agreement with the National Industrial Development and Logistics Program (NIDLP).

The cooperation agreement aims to develop strategic titanium industries in the Gulf kingdom to support the aviation and military sectors while also establishing a mining services company and laboratories that will provide services to the mining sector locally and regionally.

Under the deal, a stock market for mining companies and a minerals trading platform will be established to empower investors and increases private sector contribution in achieving diversification and economic growth for the kingdom, Saudi Press Agency reported on Wednesday.

Suliman bin Khalid Almazroua, CEO of NIDLP, said the agreement between the public and private sectors would help achieve the goals of the Saudi Vision 2030.

Mohamed bin Abdulaziz Alajlan, deputy chairman of ABHGA, added that the agreement aims to transform the kingdom into a leading industrial power, maximising the economic impact of the mining sector and sustaining its growth while also creating an attractive investment environment.


A further agreement has been signed with the National Stock Exchange of Australia that specialises in listing mining and natural resources companies, to develop the stock exchange as well as an agreement to establish a mining services company alongside a consortium of Australian companies led by Resolve Mining Solutions company and under the supervision of the Australian Embassy.

According to its website, Ajlan & Bros is one of the largest private sector conglomerates in the Middle East, employing over 10,000 people in more than 15 countries.

Established originally as a textile business in 1979, the heritage of Ajlan & Bros is rooted in retail stores but soon expanded to manufacturing.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
×