As part of our commitment to enhancing economic growth and sustainable development, Projects Energy Company is pleased to announce the signing of an important industrial contract with the Saudi Authority for Industrial Cities and Technology Zones, under the patronage and attendance of His Excellency the Minister of Industry and Mineral Resources, Bandar Ibrahim Al-Khorayef. This contract represents a pivotal step in our strategy to achieve our objectives in localizing vehicle battery production in the Kingdom.

The contract includes the allocation of an industrial land area exceeding 69,000 square meters in the industrial city of Shuqra, with an investment exceeding 125 million Saudi Riyals. We at Energy Projects Company believe that this project will serve as a new starting point for the automotive industry in the Kingdom.

Project Objectives

Through this project, we aim to achieve several key objectives:

  • Localizing Industry and Enhancing Domestic Production: We aim to establish strong national supply chains that contribute to enhancing the Kingdom’s production capacity and reducing reliance on imports.
  • Creating Job Opportunities: We believe that this project will provide valuable job opportunities for citizens, thereby contributing to the enhancement of local development and economy.
  • Global Competitiveness: By investing in vehicle battery production, we aim to enhance our export capabilities, positioning the Kingdom at the forefront of countries leading in vehicle battery manufacturing globally.

 

Importance of the Project

Vehicle batteries are essential components in modern automotive manufacturing, especially with the increasing reliance on electric and hybrid vehicles. Developing this industry locally will contribute to achieving numerous benefits, including:

  • Stimulating Innovation: Supporting research and development in battery technologies and advanced clean energy solutions.
  • Supporting Vision 2030: Contributing to the achievement of the Kingdom’s Vision 2030 goals by enhancing economic diversification and industrial sustainability.
    Conclusion

The signing of this contract marks the beginning of a new phase for Energy ProjectsCompany, as we commit to realizing the Kingdom’s vision for industrial localization and economic enhancement. We are excited to collaborate with all partners in this ambitious project and look forward to achieving tangible results that contribute to a bright future for the automotive industry in Saudi Arabia.