Saudi Arabia Launches Bids For the Construction of Dams

Saudi Arabia is working on developing dams and investing in the surrounding areas (Asharq Al Awsat)
Saudi Arabia is working on developing dams and investing in the surrounding areas (Asharq Al Awsat)
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Saudi Arabia Launches Bids For the Construction of Dams

Saudi Arabia is working on developing dams and investing in the surrounding areas (Asharq Al Awsat)
Saudi Arabia is working on developing dams and investing in the surrounding areas (Asharq Al Awsat)

The Saudi Ministry of Environment, Water and Agriculture revealed that it has launched an investment initiative, the first of its kind, to offer bids for the construction of water dams.

The ministry announced the launch of four water dam projects in the Asir region (southern of the Kingdom) for investment by the private sector, with the aim of developing and protecting the areas surrounding the dams, promoting recreational activities, and preserving water reserves.

Saudi Arabia seeks to exploit all opportunities to achieve water security and provide the necessary capabilities to protect the country’s water resources in line with the goals of Vision 2030.

The four dams are located in the Southern Asir province and they will be built in separate areas.

The Environment, Water and Agriculture Ministry said bidding from experienced private sector firms would end after nearly three months.

“These projects constitute an opportunity for the private sector to contribute to the development of the Southern region,” the Ministry said in a statement.

“The projects are intended to conserve water in that region and at the same time support plans to develop recreational activities,” it added.

In March, the Saudi government decided to assign the tasks of establishing, operating, maintaining and reconstructing dam water and groundwater purification plants to the Saline Water Conversion Corporation (SWCC).

Eng. Abdullah Al-Abdul Karim, SWCC governor, said that the cabinet decision would seek to harness all the technical, engineering and research capabilities to ensure the sustainability of water supply in all regions of the Kingdom.

He added that the corporation will manage, operate and maintain purification plants built on wells and dams, while the pumped water will remain under the management and supervision of the Ministry of Environment, Water and Agriculture.



Aramco Plans Transition Minerals Joint Venture with Ma'aden

 The proposed JV would focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies - File Photo
The proposed JV would focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies - File Photo
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Aramco Plans Transition Minerals Joint Venture with Ma'aden

 The proposed JV would focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies - File Photo
The proposed JV would focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies - File Photo

Aramco, one of the world's leading integrated energy and chemicals companies, and Ma'aden, the largest multi-commodity mining and metals company in the Middle East and North Africa region, announced on Wednesday the signing of non-binding Heads of Terms, which envisages the formation of a minerals exploration and mining joint venture (JV) in Saudi Arabia.
According to a press release, the proposed JV would focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies. Commercial lithium production is likely to commence by 2027.
This JV is expected to extend Aramco's capabilities into an adjacent sector, leveraging its technological innovation resource and data management skills. It would seek to unlock the potential of the Kingdom's high-value mineral resources, with the aim of helping meet the growing demand for lithium and other transition minerals both domestically and globally. The JV is expected to harness natural resources utilizing a wealth of subsurface data and emerging technologies to advance the Kingdom's economic diversification and energy ambitions, according to SPA.
The statements also added that there is significant potential for the extraction of energy transition minerals in the Kingdom. For example, Aramco has identified several areas with a high lithium concentration of up to 400 parts per million as part of its operations. The JV will benefit from Aramco's expertise and operations, including the use of existing infrastructure, industry-leading drilling operations, and more than 90 years of geological data in its area of operations.
Aramco Upstream President Nasir K. Al-Naimi said, "This announcement reflects Aramco's focus on positively contributing to the global energy transition. The proposed JV will enable the extraction of energy transition minerals, contributing to the growth of more sustainable energy solutions while diversifying our portfolio for a lower-carbon future. We expect that this partnership will leverage the world's leading upstream enterprise to apply significant low-cost advantages, industry experience, technological innovation, accumulated subsurface knowledge and an integrated supply chain ecosystem, with a view to meeting the Kingdom and potentially the world's projected lithium demand."
Ma'aden Senior Vice President of Exploration Darryl Clark stated, "Ma'aden has been undertaking one of the world's largest single-jurisdiction exploration programs across the Arabian Shield to unearth the estimated $2.5 trillion mineral endowment. This proposed JV would enable us to accelerate exploration of the Arabian Platform, combining Aramco's knowledge of the area with Ma'aden's mining and exploration expertise."
Lithium is a fundamental component of the energy transition, essential for production in fast-growing sectors such as electric vehicles, energy storage, and renewables. The global demand for lithium has tripled over the past five years, and its compound annual growth rate is anticipated to exceed 15% annually through 2035. The JV could help meet the Kingdom's forecasted demand for lithium, which is expected to grow twenty-fold between 2024 and 2030, supporting an estimated 500,000 electric vehicle batteries and 110 GW of renewables.
The planned JV, which is subject to customary closing conditions including regulatory approvals, was announced during the Future Minerals Forum in Riyadh.