Saudi Arabia separates industry and mining from energy ministry

Saudi Arabia separates industry and mining from energy ministry
Published: 1 September 2019 - 4 a.m.
By: Martin Menachery
Kingdom of Saudi Arabia formed a new ministry of industry and mineral resources, after splitting it from the energy ministry in a chain of royal orders issued on 30 August.

Bandar Alkhorayef was named to head the new ministry, which will become an independent entity on 1 January 2020. Khalid Al Falih remains as the minister of energy of the kingdom and chairman of Saudi Aramco. Alkhorayef is an investor and private sector based industrialist.

Industry and mining are crucial elements of Saudi Crown Prince Mohammed bin Salman's drive to diversify the kingdom’s economy away from crude oil, reduce state expenditure and create jobs for millions of young Saudis.

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