RIYADH: The National Industrial Development and Logistics Program and Ajlan & Bros Holding Group Abiliti signed agreements to work on projects worth SR50 billion ($13.3 billion) in the Kingdom’s mining sector, Asharq reported on Tuesday.
The two entities will work on the projects in cooperation with Australian firms, the report added.
The projects will be implemented through an investment partnership agreement with Advanced Metal Industries Cluster to develop a manufacturing chain for titanium metal.
The deal has also been signed with the Australian Exchange Co., specialized in underwriting mining companies and natural resources to develop a stock market for mining firms, and build a metal trading platform.
The agreement also includes the establishment of a mining services company with a consortium of Australian companies led by Resolve Mining Solutions Co.
Saudi mining portal received 4,073 license applications since launch