Saudi Gazette report

MADRID — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef met with Spanish business leaders in Madrid on Saturday to discuss potential collaborations in the drone, automotive, and geological survey sectors.

During the meeting, Alkhorayef highlighted Saudi Arabia's strategic focus on developing advanced industries as well as on localizing the manufacturing of heavy-duty drones, automotive components, and shipbuilding supplies. He also emphasized the need for comprehensive geological survey operations to support the country’s industrial growth.

The minister met with heads of Drone Hopper, a Spanish start-up created to design, manufacture and operate heavy-duty, multi-rotor unmanned drones; Ferroglobe, one of the world's leading suppliers of silicon metal; Reinosa Forgings & Castings, one of the world's leading manufacturers of large forgings and castings; IDIADA, a leading company specialized in providing design, engineering, testing and homologation services to the automotive industry worldwide, and Xcalibur, a leading provider of airborne geophysical surveys.

Alkhorayef also met with the Geological and Mining Institute of Spain Director Ana María Alonso Zarza. They discussed potential partnerships in geological research.

Also on Saturday, Alkhorayef met with Spanish Senate Industry and Tourism Committee President Francisco Javier Lacalle Lacalle and Secretary General for Economic Affairs and G20 Manuel de la Rocha Vázquez. They discussed ways to further strengthening industrial and mining cooperation and exploring joint opportunities in the promising Saudi industrial sector.

Alkhorayef highlighted Saudi Arabia's economic transformation under Vision 2030, emphasizing the key roles industry and mining play in diversifying the Kingdom's economy. He also underscored the nation's focus on developing the mining sector as a third pillar of Saudi industry, leveraging its estimated $2.5 trillion-worth of mineral wealth. He emphasized the importance of international partnerships and attracting investment in the mining sector, noting potential cooperation opportunities, given Spain's expertise in mining.

Alkhorayef highlighted opportunities in the National Industrial Strategy and the Comprehensive Strategy for Mining. While outlining the incentives and support provided to investors, the Saudi minister encouraged Spanish companies to invest in Saudi Arabia.