Northern Borders includes 25% of Saudi mineral resources at SAR 1.2T: Almudaifer

Khalid Almudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs

The Northern Borders Province includes 25% of the mineral resources across the Kingdom, at a total value of SAR 1.2 trillion, said Khalid Almudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, on the sidelines of the Northern Borders Investment Forum.

The Northern Borders is competitively privileged with phosphate, said Almudaifer, adding that over SAR 120 billion was injected to boost projects in the region, while over SAR 33 billion worth of projects are under implementation. 

He also stated that Saudi Arabia is considering investing nearly SAR 80 billion in phosphate 4 and phosphate 5 projects over the next decade.

Additionally, Saudi Arabia seeks to increase the number of factories six-fold by 2030 from 57 currently and invest more than SAR 4 billion per annum (pa) in the phosphate industry through the local content deployment. 

Factories in the Northern Borders Province will represent a cornerstone for developing the modern industry with over SAR 220 billion before 2035, Almudaifer noted.