Advertisement
Advertisement
Advertisement
Advertisement
Saudi industry, finance ministries prepare mining fund rules

Saudi industry, finance ministries prepare mining fund rules

Saudi industry, finance ministries prepare mining fund rules

Image: File

Advertisement

RIYADH: The Saudi Ministry of Industry said work is under way with the Ministry of Finance to prepare regulations for a mining fund to support the objectives of the comprehensive strategy for the mining industries, Arab News reported.

The main objective of establishing the fund is to find sustainable sources of funding to develop and support mining activity, the ministry told Aleqtisadiah paper.

The fund comes as part of the National Industrial Development and Logistics Programme to be implemented over 24 months from the end of the second quarter of 2021, the ministry said.

The ministry estimated the value of mining investments at around SR3.9 billion ($1 billion) during 2020, noting that it aims at investing SR115 billion ($30.6 billion) by 2025.

Also Read

Saudi Arabia, Egypt agree to boost cooperation in maintaining regional security, stability
Saudi Arabia, Egypt agree to boost cooperation in maintaining regional security, stability

CAIRO: Egyptian Foreign Minister Sameh Shoukry and his Saudi Arabian counterpart Prince...

Advertisement
Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Follow us on Google News.


End of Article

Next Story