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Saudi Arabia sees potential for collaboration with Indian Industry to build business in clean energy

Capital Market 

Saad AbdulRazak Alkhuzayim, Director of Localisation and Supply Chain, Ministry of Energy, Saudi Arabia, has said that there is tremendous potential for collaboration with Indian Industry to build business in clean energy as energy transition is being planned in Saudi Arabia. Addressing 'Indian Industry Interaction with Saudi Arabian Government Delegation' organized by FICCI, Minister Alkhuzayim emphasised upon localisation as an enabler for securing a complete and sustainable value chain across all resources and minerals.

He also hoped to collaborate with the Indian industry in supporting Saudi Arabia's objectives of achieving 75 per cent localisation by 2030. There is a plan to build 70 renewable energy parks by 2030 which will be built on private sector-led investments.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, March 16 2023. 12:05 IST

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