RIYADH: Saudi Arabia is in discussions with Spanish firms to explore potential collaborations in drone technology, automotive components, and geological surveying. This initiative was initiated during a meeting in Madrid between Saudi Industry and Mineral Resources Minister Bandar Alkhorayef and several business leaders.
During the meeting, Alkhorayef focused on the localization of heavy-duty drone production, automotive parts, and shipbuilding supplies, as reported by the Saudi Press Agency. These efforts are integral to Saudi Arabia's broader strategy to enhance industrialization and diversify its economy, reducing its reliance on crude oil.
The National Industrial Strategy aims to attract investment, stimulate economic growth, and boost both the gross domestic product and non-oil exports. In Madrid, Alkhorayef met with representatives from companies such as Drone Hopper, Ferroglobe, and Reinosa Forgings & Castings, among others.
He also engaged with IDIADA, a company specializing in automotive design and engineering, and Xcalibur, which offers airborne geophysical surveys. Additionally, Alkhorayef held talks with Ana Maria Alonso-Zarza, director of the Spanish Geological and Mining Institute, to explore geological research opportunities and the acquisition of high-resolution technical data.
Alkhorayef also discussed enhancing economic relations with Spain’s Industry and Tourism Minister Jordi Hereu and Economy, Trade, and Business Minister Carlos Cuerpo. He highlighted Saudi Arabia’s Vision 2030 goals, emphasizing the Kingdom's efforts to attract foreign investment in industrial and mining sectors.
Furthermore, Alkhorayef met with Spanish Minister of State for Energy Sara Aagesen Munoz to strengthen mining cooperation. He underscored the importance of sectors like industry, mining, energy, and logistics in achieving Vision 2030 objectives, with mining being pivotal to the Kingdom’s economic transformation.
Last week, Alkhorayef met with Italy’s Minister of Environment and Energy Security Gilberto Pichetto Fratin to discuss collaborative development and strategic partnerships, particularly in mining. He also met with members of the Saudi-Spanish Business Council to bolster economic ties between the two countries.
These discussions underscore Saudi Arabia's dedication to international collaborations that support its economic objectives, reinforcing its role in the global industrial arena.
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