The PIF and Red Sea Aluminium Holding Company will collaborate to develop a comprehensive aluminium plant in Saudi Arabia.
January 15, 2026
According to foreign media reports, the Saudi Public Investment Fund (PIF) and Red Sea Aluminum Holdings Co. (RSAH) have reached an agreement to develop an integrated downstream aluminum industry facility in Yanbu, in the west of Saudi Arabia.
Through this cooperation, Red Sea Aluminium Industrial (RSAI) will introduce smelting technology to Saudi Arabia and establish one of the largest continuous casting facilities in the Middle East, to produce a series of downstream aluminum products.
The investors, PIF and RSAH [jointly established by Innovation Global Industries, Innovation New Materials Co., Ltd. and Shandong Innovation Group Co., Ltd.], signed an agreement at the Future Mining Forum held in Riyadh.
The initial terms are contingent upon the partners finalizing the relevant transaction documents, meeting the preconditions, and obtaining all necessary approvals and authorizations.
