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Monday, December 23, 2024
Monday December 23, 2024
Monday December 23, 2024

Saudi Arabia opens bidding for 22 quarry sites to boost construction sector

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Gravel and sand quarry sites in the Eastern Province and Tabuk are up for bidding, advancing Saudi Arabia’s mining sector under Vision 2030

Saudi Arabia has initiated a competitive bidding process for 22 gravel and sand quarry sites as part of its broader efforts to strengthen the construction sector and develop the Kingdom’s mining industry. The Ministry of Industry and Mineral Resources made the announcement on Sunday, highlighting that the sites are strategically located in the Eastern Province and the Tabuk region.

The bidding process includes 10 sites in the Eastern Province, where five gravel licences are available at the Al-Masnah Crushers Complex near Hafar Al-Batin, and five sand licences are on offer at the Northwest Salwa Complex. In the Tabuk region, 12 gravel licences will be granted at the South Wadi Amq Complex, southeast of Haql.

Saudi Arabia Quarry Bidding is a key part of the Kingdom’s efforts to elevate mining as the third pillar of its industrial base, alongside oil and petrochemicals. With over 5,300 mineral sites valued at SR5 trillion ($1.33 trillion), Saudi Arabia is rich in mineral resources.

Applications for these quarry licences will be accepted between 10 and 19 December, with interested parties encouraged to visit the “Taadeen” platform for additional information. The bidding process will proceed in four stages: verifying qualifications, announcing eligible competitors, auctioning the sites, and naming the winning bidders. This structured approach ensures transparency and fosters confidence in the sector’s investment potential.

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The government’s Accelerated Exploration Program supports these efforts by focusing on the effective utilisation of the Kingdom’s mineral wealth. This initiative aligns with the goals of Vision 2030 and the National Industrial Development and Logistics Program, both of which prioritise economic diversification and sustainable growth.

Last month, Saudi Arabia awarded 11 mining exploration permits to both local and international entities for six sites across Riyadh, Makkah, and Asir. Covering an area of 850 square kilometres, these permits were granted through a rigorous competitive process designed to attract top-tier investors.

The exploration licences were secured by one national firm and five alliances comprising ten companies, including international stakeholders. The ministry emphasised that such partnerships are key to unlocking the full potential of Saudi Arabia’s mineral resources, further positioning the mining sector as a cornerstone of the Kingdom’s economic future.

This latest move underscores Saudi Arabia’s commitment to creating a vibrant mining industry while ensuring a steady supply of essential materials to support its booming construction sector. By tapping into its abundant natural resources and promoting sustainable practices, the Kingdom is paving the way for a diversified and resilient economy.

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