Riyadh, February 18, 2025 – In a significant milestone for Saudi Arabia’s industrial and mining sectors, Bandar Alkhorayef, the Minister of Industry and Mineral Resources, declared that Wa'ad Al Shamal Industrial City has emerged as a global model for the mining industry, playing a pivotal role in realizing the nation’s ambitious goals under Saudi Vision 2030. Alkhorayef's remarks came during the inauguration of Ma'aden’s Phosphate 3 project and the unveiling of other critical developments within Wa'ad Al Shamal Industrial City.
The event was attended by prominent figures, including the Governor of the Northern Borders Region, Prince Faisal bin Khalid bin Sultan bin Abdulaziz, and several other high-ranking officials. Alkhorayef highlighted that the success of the industrial city is a testament to the great support provided by the Saudi leadership, which has prioritized the development of the industry and mining sectors to drive economic diversification and sustainable growth. This commitment is a central pillar of Saudi Arabia’s Vision 2030, which aims to reduce the country’s dependency on oil and diversify its economic base.
One of the key highlights of the event was the launch of Ma'aden’s Phosphate 3 project, a major investment in the phosphate industry that strengthens Saudi Arabia’s position as a global leader in phosphate production. The total investments in phosphate projects within Wa'ad Al Shamal Industrial City have now surpassed SAR 80 billion, with plans for an additional SAR 50 billion in future investments. This ambitious expansion will further cement Saudi Arabia's status as a dominant force in the global mining industry, particularly in phosphate production, which is a crucial element in fertilizers and other industrial applications.
Alkhorayef emphasized that the success of Wa'ad Al Shamal Industrial City is due in part to the advanced infrastructure and competitive advantages that the Kingdom offers, making it an attractive destination for both local and international investors in the mining sector. The city’s strategic location, state-of-the-art facilities, and robust policy framework have created an environment ripe for investment, innovation, and collaboration.
Furthermore, the developments in Wa'ad Al Shamal align with the Kingdom's broader vision of sustainable development. The mining projects underway contribute to the creation of high-quality jobs, the development of local industries, and the transfer of advanced technologies, all of which support the long-term economic and social growth of the region.
The successful execution of the Ma'aden Phosphate 3 project and other industrial advancements in Wa'ad Al Shamal not only highlight the region’s potential but also represent a clear indicator of Saudi Arabia’s determination to establish itself as a global leader in mining and a key player in the global supply chain of critical resources.
In conclusion, Wa'ad Al Shamal Industrial City has become an essential element of Saudi Arabia’s economic transformation under Vision 2030, setting the stage for further growth and positioning the Kingdom at the forefront of global industrial development, particularly in the mining and phosphate sectors. The commitment to fostering sustainable, diversified economic growth continues to shape the future of the Kingdom and its role on the global stage.
