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Saudi Arabia + Italy mull cooperation: Industry and Mineral Resources Minister Bandar Al Khorayef met with Italy’s Environment and Energy Security Minister Gilberto Fratin in Rome, where they discussed enhancing cooperation in mining, sustainability solutions, renewables and clean energy, according to a post on X. Fratin was also invited to attend the International Mining Conference set to take place in Riyadh early next year.
The pitch: Al Khorayef highlighted the Kingdom’s untapped mineral wealth, estimated at around USD 2.5 tn. He noted that the Kingdom offers investors access to 80 years of geological data through a digital platform, enabling them to make well-informed decisions when entering the minerals market.
Meeting private sector players: Al Khorayef met with Italian and global companies to explore the localization of EV manufacturing, and also to enhance cooperation in the aviation and shipbuilding industries. He held talks with officials from Swiss EV company Piëch, Saudi-based holding company Nimr, Italy-based shipbuilding company Fincantieri, and Italy-based tech player AlmavivA, according to another post on X.
Saudi Export-Import Bank (EXIM) inked a USD 25 mn credit line agreement with South Africa’s Standard Bank on the sidelines of the Saudi-South Africa Business Forum in Johannesburg this week, Bloomberg reports. The move looks to support Saudi exports to South Africa, with Saudi EXIM also forwarding funds to Saudi firms looking to invest in Africa’s largest economy. Commerce Minister Majid bin Abdullah Al Qasabi led a high-level trade delegation participating in the forum, state news agency SPA reported here and here.
