Vedanta Ltd plans to invest $2 billion in Saudi Arabia’s copper sector through its subsidiary, Vedanta Copper International.
The company has signed agreements with Saudi Arabia's Ministry of Investment and Ministry of Industries to set up a 400 KTPA copper smelter and refinery and a 300 KTPA copper rod project in Ras Al Khair Industrial City. A $30 million copper rod mill, with 125 KTPA capacity, will begin operations by FY26. This aligns with Saudi’s Vision 2030 to expand the mining sector’s GDP contribution from $17 billion to $64 billion.