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Saudi Arabia invests $6 billion in steel complex – Gulf Insider

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Saudi Arabia’s Ministry of Industry and Mineral Resources said it has secured $6 billion for a steel plate mill complex and electric vehicle battery metals plant as part of plans to lure $32 billion of investment into the mining sector.

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The ministry’s target would fund nine mining projects for midstream minerals and metals, said Industry and Mineral Resources Minister Bandar al-Khorayef.

The Kingdom is seeking to diversify its economy away from oil by investing hundreds of billions of dollars into a plan called Vision 2030 initiated by Saudi Arabia’s Crown Prince Mohammed bin Salman.

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ismailsesa

Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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