Al-Khorayef, who is the chairman of the board of directors of the National Industrial Development Center, explained that among the biggest projects that were carried out earlier in the years 2021 and 2022 are three casting and road projects, which are part of the inputs. of the machinery and equipment sector, and one of the bases of the national strategy for industry with investments exceeding 1 billion dollars. He explained that the casting and road projects will contribute to the establishment of complete value chains through which he aims to extend the value chains from raw material of materials to finished products, and will also contribute to the substitution of imports of cast and forged products, as well as valve and pump manufacturing projects with investments amounting to 119 million dollars.
He added that the National Industrial Development Center has worked over the past two years with investors in the Schneider Electric Saudi Arabia project for a production line for (Altivar Modular Drives) by providing data, information and a report. supply chain study (drivers) The total value of the project is estimated at 2.6 million dollars, at the inauguration of the project. And the product production line was put into operation at the end of 2022, indicating that the factories of the future, as an initiative adopted by the ministry, aim to automate factory operations; Therefore, the machinery sector has developed an investment opportunity, which it is currently working on with a potential investor to assemble industrial “robot” arms, which are in their initial stage, as a step to develop the “robot industry”. “in the Kingdom.
He pointed out that one of the most important pillars of the national strategy for industry is to preserve existing factories and activate them through policies and legislation developed by the machinery and equipment sector in the industrial heartland. in cooperation with the Local Content and Public Procurement Authority, according to the official Saudi Press Agency.
Several achievements have been made, the most important of which are:
Support for the Hitachi gas-insulated high-voltage switchgear plant by registering it on the mandatory list of public contracts Support for the Teco electric motor plant in the Middle East in qualification operations with large national companies.
The Minister of Industry and Mineral Resources indicated that the National Industrial Development Center is working with the Public Investment Fund to build a business model to take advantage of the investment opportunities developed by the sector. Eight opportunities were selected for initial evaluation, and two opportunities for final evaluation were selected. Workshops and bilateral meetings have also been organized with and linked to investment companies. In global factories for industrial investment and technology transfer to the Kingdom.
It should be noted that the machinery and equipment sector helps support all industries, including oil and gas, petrochemical, mining, food, construction and others, and its imports in 2019 are estimated around $32 billion.
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