Vedanta plans $2 billion investment in Saudi Arabia copper projects

According to the company, this collaboration aligns with Saudi Arabia's Vision 2030 and aims to invest $2 billion in significant copper projects within the Kingdom. The initiatives are designed to support the Kingdom’s ambitious Vision 2030, which seeks to unlock mineral resources valued at approximately $1.3 trillion and increase the minerals sector's GDP contribution from $17 billion to $64 billion by 2030.

Vedanta intends to begin its operations in Saudi Arabia with a 125 KTPA copper rod mill project, requiring an initial investment of $30 million. The company confirmed that all necessary approvals have been secured, land has been acquired, and technology orders have been placed. Work at the project site is expected to commence soon, with commercial production targeted for the fourth quarter of FY26.

Currently, Saudi Arabia’s copper demand stands at approximately 365 KTPA, a figure projected to more than double by 2035. At present, the demand is largely met through imports. Vedanta’s planned copper smelter, refinery, and rod projects will be located in Ras Al Khair Industrial City within the Kingdom.

The company added that recent visits by senior officials from Saudi Arabia’s Ministry of Mines and the National Industrial Development Centre to its operations in India have strengthened the foundation for on-going high-level discussions, which are progressing as planned.

These projects are anticipated to create thousands of jobs, foster the development of downstream industries, and contribute $19 billion to Saudi Arabia’s GDP. Over time, they are also expected to advance the Kingdom’s goal of achieving self-sufficiency in its copper supply chain.