Industry Minister explores food, auto industries localization

Bandar Alkhorayef Minister of Industry and Mineral Resources

Bandar Alkhorayef, Minister of Industry and Mineral Resources, held a series of meetings with major Canadian companies to explore knowledge transfer and innovation opportunities in key sectors.

The meetings, attended by leaders from the industry and mineral resources sector, addressed promising fields that contribute to the development of the national industry strategy, including the food and automotive industries, and attracting quality investments to the Saudi mining sector.

The minister’s talks with Canadian mining companies focused on investment opportunities in exploration, exploitation, and mineral processing in the Kingdom, which possesses a mineral wealth estimated at around $2.5 trillion.
 

Discussions also covered the localization of the latest responsible and sustainable mining technologies and reviewed the objectives of the comprehensive mining strategy and the national mineral program.

Alkhorayef held discussions with Allied Gold Corporation, a prominent player in mineral exploration; Hatch Ltd, specializing in technical consulting and mining services; and Agnico Eagle Mines, a global leader in mining and the world's third-largest gold producer. He also met with officials from Kinross Gold mining company as well as the asset management team at the Bank of Montreal (BMO) to discuss opportunities for attracting Canadian companies to invest in the Saudi mining sector.

Further, the minister met with Max Koeune, CEO of McCain Foods Ltd, a globally leading frozen food company. They discussed the transfer and localization of the latest food manufacturing technologies and opportunities to establish a research and development center in Saudi Arabia to enhance the quality of local production.

He also met with the chief sales and marketing officer of Magna International, a prominent player in the automotive technology sector, to discuss opportunities for localizing the latest car technologies, electric-vehicle (EV) solutions in the Kingdom, smart safety technologies, and fuel efficiency improvements.