Advantages and opportunities
The Kingdom of Saudi Arabia's Minerals and Metal Processing cluster is one of five industrial clusters targeted for expansion in its Industrial Clusters program.
Advantages and opportunities of the Minerals and Metal Processing cluster include:
- Extensive reserves of metal ores and metals in a country covering 2 million sq km
- Strong demand from a Saudi Arabian economy growing by 5 - 6% a year
- Buoyant demand from neighbouring Gulf Cooperation Council (GCC) and other Middle East-North Africa (MENA) countries
- Plentiful energy for use in smelters, furnaces and processing plants
- Ease of transportation to Europe, Africa, India, GCC countries and other key export markets
- A high-value products market of over 2 billion people within three hours by air
- A committed, well-qualified workforce, including graduates from King Fahd University of Petroleum & Minerals and King Abdullah University of Science and Technology
As the largest economy in MENA and the 23rd largest in the world, Saudi Arabia provides considerable opportunities. For example, there is growing demand for aluminium and steel in IC's prioritised Solar Energy, Automotive and Home Appliance clusters, and in advanced sectors such as aerospace. From aluminium cans for increasingly affluent consumers to steel girders for the Middle East's thriving construction sector, there is a strong market for metals and metals-based products.