Saudi Arabia to push mineral exploration: Al-Falih

07/06/2016 Argaam

Saudi Arabia is planning to issue new licenses to explore for minerals and to build more industrial cities, said Khalid Al-Falih, the minister of energy, industry and mineral resources, at a news conference announcing the kingdom’s National Transformation Plan (NTP).

 

Investment in mining exploration would increase to $500 million by 2020 from a $50 million, said Al-Falih.

 

Saudi Arabia is seeking to build more industrial cities in Rabigh and Ras Al Khair, in addition to operating the Ras Al Khair ship repair and fabrication complex which would reduce Saudi imports by $12 billion and add 80,000 direct and indirect jobs.

 

Al-Falih also said that Saudi Arabian Oil Co. (Saudi Aramco) will invest in gas imports to the kingdom, but priority will be to find new sources of gas locally through exploration.

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