Anil Agarwal's Vedanta To Invest Rs 1.68 Lakh Crore In Saudi Arabia - Details

Vedanta Ltd has announced its plans to invest $ 2 billion in significant copper projects in Saudi Arabia. The agreement was formalized through Vedanta Copper International, a wholly-owned subsidiary of Vedanta Ltd, in collaboration with the Ministry of Investment and the Ministry of Industries & Mineral Resources of the Kingdom of Saudi Arabia. The pact includes the establishment of a 400-kilo tonne per annum (KTPA) copper smelter and refinery, along with a 300 KTPA copper rod project.

Supporting Saudi Arabia’s Vision 2030

This initiative is part of Saudi Arabia’s Vision 2030, which aims to unlock $1.3 trillion in mineral resources and significantly boost the minerals sector’s GDP contribution. According to Vedanta, the copper projects align with Vision 2030’s objectives of elevating the sector’s contribution to the national GDP from $ 17 billion to $ 64 billion by 2030.

Initial Project to Begin Soon
The first project in Saudi Arabia is a 125 KTPA copper rod mill, with an investment of $ 30 million. Vedanta has already secured all necessary approvals for the project, acquired land, and placed technology orders. Construction is expected to commence soon, with commercial production slated to begin by the fourth quarter of FY26.

Meeting Growing Domestic Copper Demand
Currently, Saudi Arabia's domestic copper demand is around 365 KTPA, a figure which is expected to more than double by 2035. At present, most of this demand is met through imports. Vedanta’s projects, including the copper smelter and refinery, as well as the copper rod project, aim to address this growing demand and reduce the Kingdom’s reliance on imports.

Ras Al Khair Industrial City as Project Hub
The copper smelter, refinery, and rod mill will be set up in Ras Al Khair Industrial City, a key industrial hub in Saudi Arabia. Recent visits by senior officials from the Kingdom’s Ministry of Mines and the National Industrial Development Centre to Vedanta’s operations in India have helped strengthen ties and advance discussions regarding the project.

Job Creation and Economic Impact
The projects are expected to generate thousands of jobs and facilitate the development of hundreds of downstream industries. They are also projected to contribute $ 19 billion to Saudi Arabia’s national GDP over time. Moreover, the initiatives will bring Saudi Arabia closer to achieving self-sufficiency in its copper supply chain, further supporting the Kingdom’s economic diversification goals.