Saudi Arabia, Spain partner up in drone and automotive sectors
These initiatives are part of Saudi Arabia’s broader strategy to enhance industrialisation
Dubai: Saudi Arabia is seeking partnerships with Spanish firms in drone technology, automotive components, and geological surveying, following discussions between Saudi industry minister Bandar Al Khorayef and business leaders in Madrid on Saturday.
During the talks, Al Khorayef focused on localising the production of heavy-duty drones, automotive parts, and supplies for shipbuilding, as reported by the Saudi Press Agency.
These initiatives are part of Saudi Arabia’s broader strategy to enhance industrialisation and reduce reliance on oil. The national industrial strategy aims to attract investment, promote economic growth, and boost both gross domestic product (GDP) and non-oil exports.
In Madrid, Al Khorayef met with representatives from various companies, including Drone Hopper, a Spanish start-up known for its multi-rotor unmanned drones; Ferroglobe, a supplier of silicon metal; and Reinosa Forgings and Castings, which produces large forgings and mouldings.
He also engaged with IDIADA, a company specialising in automotive design, engineering, testing, and homologation, as well as Xcalibur, which conducts airborne geophysical surveys.
Al Khorayef met with Ana Maria Alonso-Zarza, director of the Spanish geological and mining institute, to discuss geological research and the acquisition of high-resolution technical data for scientific and industrial purposes.
His discussions included meetings with Spain’s industry and tourism minister Jordi Hereu and economy, trade, and business minister Carlos Cuerpo to explore ways to enhance economic relations and boost Spanish investment in Saudi Arabia.
Alkhorayef outlined the goals of Saudi Arabia’s Vision 2030, which aims for economic diversification, emphasising that the country is funding initiatives to attract foreign investment in the industrial and mining sectors.