Alkhorayef Engages With Italian Firms On Localizing Automotive And Aviation Industries

Minister of Industry and Mineral Resources Bandar Alkhorayef recently engaged in discussions with leaders from major Italian and international firms. These meetings aimed to explore opportunities for localising the electric car industry in Saudi Arabia. Additionally, they focused on enhancing collaboration in aviation, shipbuilding, smart manufacturing solutions, and industrial automation.

The discussions highlighted 12 strategic sectors that offer localisation opportunities. The Kingdom provides capabilities and incentives to global investors to leverage these investment prospects, thereby adding value to the national economy. Alkhorayef emphasised the Kingdom's commitment to establishing significant projects in the automotive sector.

In a meeting with Anton Piëch, founder and CEO of Swiss electric car manufacturer Piëch Automotive, Alkhorayef discussed leveraging advanced car manufacturing technologies. The Kingdom aims to localise this industry through projects like Lucid, which plans to produce 155,000 cars annually by 2027. Additionally, Ceer company is set to manufacture up to 170,000 cars annually by 2034.

Alkhorayef also engaged with alNimr alArabi Holding Company regarding their plans to localise aviation technology in Saudi Arabia. This involves setting up a factory for aircraft parts production following their acquisition of Piaggio Aerospace, known for commercial aircraft and drone manufacturing.

The minister met with officials from Fincantieri, an Italian company specialising in shipbuilding. They explored cooperation opportunities within the marine industries across all value chains, from design to final product presentation. This collaboration aims to strengthen Saudi Arabia's position in the marine sector.

During discussions with AlmavivA Technology Company's international markets manager, Alkhorayef focused on automating industrial facilities. They explored ways to enhance production efficiency through smart manufacturing solutions and adopting Fourth Industrial Revolution applications, particularly integrating robots into manufacturing processes.

Strengthening Saudi-Italian Economic Ties

Alkhorayef also met Yousef Al-Maimani, Vice President of the Saudi-Italian Business Council. He praised the council's role in bolstering trade and economic relations between Saudi Arabia and Italy. The council encourages Italian private sector investments in promising sectors within the Kingdom, especially industrial and mining sectors.

The series of meetings underscored Saudi Arabia's commitment to advancing its industrial capabilities. By fostering international partnerships and localising key industries like automotive and aviation, the Kingdom aims to drive economic growth while enhancing its technological landscape.

With inputs from SPA