Saudi Arabia aims to keep 8M tons of chemicals for local manufacturing: Official

Saudi Arabia aims to keep eight million tons of chemicals for local manufacturing instead of exports, Al Eqtisadiah reported, citing Khalil bin Salamah, Deputy Minister of Industry and Mineral Resources for Industry Affairs.

The ministry has categorized sectors based on their current critical needs, including the chemicals sector, which produces an estimated 80 million tons of raw materials, he said on the sidelines of the Standard Incentives Program launch ceremony in Riyadh.

The automotive sector is among the promising industries in Saudi Arabia, Salamah said. He added that three car manufacturing factories have been established, with one already commencing production and the other two in the construction phase.

The minister underpinned the importance of fully supporting these factories, with a supply chain that could involve up to 300 facilities, to ensure the completion of most of the supply chain, including metal, plastic, and electrical materials.