Saudi Infrastructure Expo: Transforming the Kingdom into Leading Destination for AI

Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Digital Transformation and Smart Cities Eng. Ali Rajhi. (Asharq Al-Awsat)
Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Digital Transformation and Smart Cities Eng. Ali Rajhi. (Asharq Al-Awsat)
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Saudi Infrastructure Expo: Transforming the Kingdom into Leading Destination for AI

Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Digital Transformation and Smart Cities Eng. Ali Rajhi. (Asharq Al-Awsat)
Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Digital Transformation and Smart Cities Eng. Ali Rajhi. (Asharq Al-Awsat)

The Saudi government is seeking to transform the Kingdom into a destination for artificial intelligence, by relying on modern technologies and innovative practices in the field of infrastructure.

In this context, the Saudi Infrastructure Summit and Exhibition were launched in Riyadh on Monday in the presence of more than 275 local and international companies from 20 countries.

Speaking during the event, Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for Digital Transformation and Smart Cities Eng. Ali Rajhi said the contracting sector, especially infrastructure, was an essential pillar in projects and assumed a pivotal role within the initiatives of the Kingdom’s Vision 2030.

He added that the summit was an opportunity to learn about the latest regulatory and administrative legislation, stressing that the ministry would continue to provide facilitations for investments and businesses within this vital sector.

Chairman of the Board of Directors of the Saudi Contractors Authority Engineer Zakaria Al-Abdulqader emphasized the importance of the event, which he said was based on three main objectives, starting with transforming the Kingdom into a destination for artificial intelligence by relying on modern technologies and innovative practices in the field of infrastructure.

The second objective, according to Abdulqader, is to bring together investors and decision-makers from around the world to discuss challenges and opportunities in the field of information technology and to benefit from local and global expertise.

The third goal is to create an interactive platform for stakeholders from legislative and regulatory bodies, in addition to contractors and interested companies, suppliers, and local and international experts, to share their experiences, encourage creativity and innovation and spread awareness in several fields.

The Saudi Infrastructure Exhibition, which covers various sectors of the infrastructure industry, brings together local and international exhibitors for three days, to showcase products and provide innovative solutions, with the aim of transforming the infrastructure landscape in the Kingdom.

This year’s edition features pavilions for eight countries, including Egypt, China, the United Arab Emirates, Qatar, Italy, Türkiye, Germany and India.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.