Saudi Minister Leads Delegation to India to Bolster Industrial & Mining Ties

Saudi Arabia and India are set to strengthen commercial and mining ties, with key agreements expected during a four-day visit by the Kingdom’s industry minister.
Bandar Alkhorayef, leading a high-level delegation from the Ministry of Industry and Mineral Resources and the Local Content and Government Procurement Authority, is scheduled to meet top Indian ministers to explore partnership opportunities in petrochemicals, pharmaceuticals, and automotive, the Saudi Press Agency reported.
The visit, which includes stops in New Delhi and Mumbai — India’s commercial hub — aligns with the Kingdom’s broader Vision 2030 goals to diversify its economy and position Saudi Arabia as a global industrial and mining powerhouse.
This follows growing trade ties between the two nations, with Saudi Arabia’s non-energy goods exports to India rising 19.4 percent in November to SR2.52 billion (~US$672 million), while imports from India reached SR3.14 billion (~US$837 million).
On the first day of his visit, which began on Feb. 3, Alkhorayef met with Minister of Chemicals and Fertilizers Jagat Prakash Nadda and Union Minister of Heavy Industries H.D. Kumaraswamy.
Discussions focused on expanding cooperation in petrochemicals, fertilizers, and pharmaceuticals, as well as medical devices, heavy machinery, automobiles, and spare parts.
Both sides underscored the importance of strengthening ties and boosting investment and industrial development through joint initiatives.
In his meeting with Kumaraswamy, Alkhorayef highlighted Saudi Arabia’s national industrial strategy and the role of the iron and steel sector in fostering industrial integration between the two countries.
India also expressed interest in participating in magnesium ore extraction in Saudi Arabia to produce refractory raw materials for the iron and steel industry. The Kingdom’s role in hosting the Saudi International Iron and Steel Conference was also emphasized.
In a subsequent meeting with Minister of Industry and Supply Piyush Goyal, Alkhorayef discussed attracting high-quality investments to drive growth in critical sectors. Both ministers highlighted strong economic and bilateral ties, noting significant potential for deeper industrial collaboration.
According to the Saudi Ministry of Economy and Planning, Saudi exports to India reached SR8.8 billion (~US$2.3 billion) in October, accounting for 9.5 percent of the Kingdom’s total exports. The primary exports included mineral fuels, oils, waxes, and fertilizers.
Meanwhile, Saudi imports from India largely consisted of vehicles, boilers, and machinery, including industrial components such as engines and pumps for various sectors.
05/02/2025
REHC, Bareeq Al Retaj Sign Bahrain Agreement

The Rashid Equestrian and Horseracing Club (REHC) on February 3 announced that it has signed an agreement with Bareeq Al Retaj Real Estate Company to establish a world-class golf course at its Raffa facility in Bahrain. Spanish golf star Sergio Garcia, who serves as the course designer and brand ambassador.
This comes as part of REHC’s efforts to enhance Bahrain’s position as a leading sports tourism destination, reported BNA.
The agreement was signed by Yusuf Osama Buheji, CEO of REHC, and Yousif Bucheeri, CEO of Bareeq Al Retaj Real Estate Company, alongside Garcia, at a key ceremony held in Bahrain.
The agreement covers the planning and implementation of the course within REHC’s broader development strategy.
Buheji emphasised the importance of the golf course as a strategic project led by the REHC High Committee, chaired by Shaikh Isa bin Salman bin Hamad Al Khalifa, Chairman of the Board of Trustees of the Isa bin Salman Education Charitable Trust, Chairman of the Board of Directors of the Labour Fund (Tamkeen), and Chairman of the REHC High Committee.
The initiative aligns with efforts to diversify development projects at the club, transforming it into a premier destination while supporting the sports and tourism sectors and attracting investment to advance Bahrain’s economic growth, he added.
Bucheeri commended Bareeq Al Retaj Real Estate Company’s role in delivering the project, describing it as a significant addition to Bahrain’s sports infrastructure, said the BNA report.
He highlighted its contribution to the continued development of REHC, which has achieved major success in hosting international horseracing championships.
The project, he added, will further cement Bahrain’s reputation as a host for international sporting events, including golf.
05/02/2025
Iran Urges Enhanced Economic Exchanges among ECO Members

Iran’s Deputy Foreign Minister for Economic Affairs Rasoul Mohajer has called for more efforts among the members of the Economic Cooperation Organization (ECO) to increase trade exchanges. Mohajer made the remarks in an address to the meeting at the level of deputy foreign ministers of the ECO member states, which was held at the organization’s secretariat in Tehran on Monday.
He said the volume of economic exchanges among the ECO members with the countries around the world stands at one trillion dollars, PressTV reported. “However, only 7% of this figure includes interactions among the ECO members, which needs to be improved,” the Iranian diplomat added.
During the session, Kazakhstan’s Deputy Foreign Minister Alibek Bakayev, whose country currently assumes the role of ECO secretary general, also delivered a speech. ECO, whose members are Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Turkey, and Uzbekistan, promotes regional trade and economic development.
The ECO region is endowed with appropriate capacities, opportunities, and platforms for cooperation in various fields, especially in energy, trade and transport. Iran, one of the founders of the organization, is a key member of the group due to its geopolitical and geoeconomic position.
With its impressive energy resources and the geographic location to transfer them to global markets, Iran is an important fulcrum for multilateral cooperation and regional convergence. Besides, it is best placed for transferring energy from Central Asia and the Eurasian region to the world market. - Mehr
05/02/2025
Diversify Petchem Feedstock, Urges Iran's NPC Chief

The managing director of the National Petrochemical Company (NPC) emphasized the need to diversify the feedstock basket for petrochemical plants to ensure sustainable production as new projects come online.
Speaking at a meeting with petrochemical holding companies CEOs, Hassan Abbaszadeh highlighted the importance of collaboration within the industry. "Fortunately, there is excellent cooperation and interaction with the petrochemical holdings and companies, and we are working together to address the industry’s challenges," he said.
Abbaszadeh stressed the necessity of inter-complex feedstock supply cooperation, noting that the NPC, in collaboration with the holdings, has taken effective measures in this regard. The NPC head added that the holdings and companies themselves can resolve issues through negotiations to ensure timely feedstock supply for the complexes.
The deputy oil minister also pointed out that the involvement of holdings in the development of the country’s oil and gas fields could significantly impact the supply of feedstock for the industry. "Negotiations on some fields by petrochemical holdings are still ongoing, and we hope they will be finalized soon," he noted.
Abbaszadeh mentioned that a review of permits issued for projects is underway, with effective measures already taken. He urged the holdings to conduct necessary revisions for some projects. Regarding industry events such as domestic and international exhibitions and conferences, Abbaszadeh called for the development of an annual executive calendar in coordination with the holdings.
He suggested that public relations managers could facilitate necessary coordination by organizing specialized and expert meetings. The NPC CEO also emphasized that professional competence should be a priority in appointing industry managers, with selections based on expertise, commitment, and merit. - Shana
05/02/2025