Madrid, October 19, 2024 – Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Alkhorayef, met with prominent Spanish business leaders in Madrid today to explore potential collaborations across several key industrial sectors, including drones, automotive components, and geological surveys. This visit marks an important step in fostering stronger economic and industrial ties between Saudi Arabia and Spain, as both nations seek to capitalize on shared opportunities in advanced manufacturing and technology.
During his meetings, Minister Alkhorayef emphasized Saudi Arabia’s strategic vision to bolster its industrial sector by developing advanced industries and localizing the production of critical technologies. Among the key priorities discussed were the localization of heavy-duty drones, automotive components, and shipbuilding supplies. Alkhorayef highlighted the importance of Saudi Arabia’s industrial transformation in line with the Kingdom’s Vision 2030 initiative, which aims to diversify the economy, reduce dependency on oil revenues, and promote high-tech manufacturing.
The minister engaged with leaders from a number of major Spanish firms, each recognized for their specialized expertise in areas that align with Saudi Arabia’s industrial objectives. Among these companies was Drone Hopper, an innovative start-up focused on the design, manufacturing, and operation of heavy-duty, multi-rotor unmanned drones, which are essential for various industrial applications. Minister Alkhorayef also met with Ferroglobe, one of the world’s foremost suppliers of silicon metal, a key material in the manufacturing of electronics and automotive components, and Reinosa Forgings & Castings, a global leader in the production of large-scale industrial forgings and castings.
The automotive sector was another major focus of the discussions, with the minister holding talks with IDIADA, a leading firm that provides specialized design, engineering, and testing services to the automotive industry. IDIADA’s expertise in homologation services is particularly valuable as Saudi Arabia seeks to develop its own automotive manufacturing capabilities. Additionally, the minister met with Xcalibur, a prominent provider of airborne geophysical surveys, to discuss how their expertise in geological surveys could contribute to Saudi Arabia’s ambitious plans for comprehensive mineral exploration and mapping.
In a separate meeting, Minister Alkhorayef sat down with Ana María Alonso Zarza, Director of the Geological and Mining Institute of Spain, to explore potential partnerships in geological research. These discussions were centered on opportunities for cooperation in conducting large-scale geological surveys that are critical for supporting Saudi Arabia’s expanding industrial base.
The meetings underscore Saudi Arabia’s commitment to forming international partnerships that can drive technological innovation and support the Kingdom’s vision of becoming a global industrial hub.
