Vedanta's Strategic Investment in Saudi Arabia

Vedanta is committing 2 billion US dollars to establish copper manufacturing facilities in Saudi Arabia, which includes a copper smelter, a refinery, and a copper rod plant. This initiative aims to produce substantial quantities of refined copper, amounting to 400 kilo tons annually from the smelter and refinery combined, alongside 300 kilo tons from the rod plant. The decision is driven by a multitude of factors: the growing global demand for copper, particularly due to its essential role in electric vehicles and renewable energy, and Saudi Arabia's Vision 2030, which seeks to diversify its economy beyond oil. The move not only represents a recovery path for Vedanta following past setbacks in India and Zambia but also positions Saudi Arabia as a key player in the copper market, aiming to reduce dependency on imports and align with global supply chain strategies.