India’s Vedanta working on 3 strategic projects in Saudi Arabia

Vedanta Ltd. is working on three strategic projects in Saudi Arabia, Puneet Khurana, CEO (Copper & Nickel Operations), told Argaam.

These include the Jabal Sayid 1 copper and gold exploration mine, the establishment of a copper smelter and precious metals refinery with a total investment of $2 billion (or SAR 7.5 billion).

Khurana also noted the development of a copper rod plant in Ras Al-Khair with an annual production capacity of 130,000 tons.

Vedanta obtained a mineral exploration license for the Jabal Sayid 1 site in Saudi Arabia, valid through 2030, he said.

Khurana pointed out that the company plans to invest around SAR 33 million in exploration activities over the next three years. Preliminary studies indicate the presence of an estimated 30 million tons of ore with a copper grade of up to 1.5%.

The site shows promising potential for both copper and gold extraction, he noted, adding that the company aims to accelerate exploration work using global best practices in mineral exploration, resource modelling, and mine development.

He highlighted that this project forms part of Vedanta’s long-term strategy in Saudi Arabia, which also includes developing an integrated copper value chain, in line with Saudi Vision 2030 and the objectives of the National Industrial Strategy.

Khurana revealed that the copper rod plant is in construction phase, with commercial production expected to begin in September 2026. The project is progressing rapidly with support from the Ministry of Industry and Mineral Resources, he added.

These investments will help strengthen the local supply chain and support the Kingdom’s drive toward self-sufficiency in copper.

He added that the company’s combined investments in Saudi Arabia could contribute up to $20 billion to the Kingdom’s GDP, while creating more than 5,500 direct and indirect jobs.

Khurana said that the company moved to invest in Saudi Arabia due to the Kingdom’s clear vision to build a diversified economy that does not rely solely on oil but focuses on minerals and manufacturing industries.

He added that this vision aligns closely with Vedanta’s 25-plus years of experience in India, where the company contributed to transforming the country from a net importer into an exporter of base metals such as copper, aluminum, and zinc.