Industry Ministry to launch 35 renewable energy projects in 2024: AlKhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects in 2024, Asharq News reported, citing Minister Bandar AlKhorayef.

The coming year will witness the execution of a big number of projects as well as investments, AlKhorayef added on the sidelines of the annual ceremony of the National Industrial Development and Logistics Program (NIDLP).

The ministry is committed to attracting investments, as Saudi Arabia became a major center for various investments and the energy sector competitively lures mega projects.

Geological surveys are ongoing in the mining sector and new mining sites are being launched. In the industrial field, work is under way to open new businesses and empower others such as the automotive industry to make it an integrated business, in addition to the equipment, renewable energy and pharmaceutical industry.

There are no obstacles to providing funds for the implementation of the projects. Rather, some businesses became attractive for the private sector entities, such as infrastructure projects, industrial cities, and ready-built factories. Therefore, the Kingdom’s investments in previous years would attract private sector investments in the coming period.