الرئيس التنفيذي لشركة رصانة المالية السعودية لـ CNBC عربية: مشروع صهر وتنقية النحاس سيغطي في المرحلة الأولى 70% من احتياجات السعودية
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00:00 We have with us the executive board member and CEO of Rasana, Abdallah Al-Rabdi.
00:07 Welcome, Mr. Abdallah.
00:09 Thank you for being here.
00:11 Let's start with this project that is the first to define the company's goals and priorities.
00:17 Good evening, Ms. Maysa and viewers.
00:23 First of all, we are proud to be part of this huge and important project.
00:30 As I mentioned, it is the only one in the Middle East to have a copper and copper-pure project.
00:41 Today, we know that copper is sometimes called "the new oil" or "the new point"
00:48 because of the introduction of copper and copper-fired steel in many industries,
00:54 including the energy industry, which has become an important source of income for many economies.
01:02 For example, today, the biggest part of electric cars is made of copper,
01:11 because the electricity and renewable energy are all generated from copper.
01:15 Today, Saudi Arabia's focus on renewable energy and electric cars
01:24 needs to be integrated into the existence of copper and copper-fired steel
01:30 as a support for the market and these industries to complete the system.
01:36 This factory, God willing, will cover 70% of the country's copper needs in the first phase.
01:44 In the second phase, we will cover more than the local demand,
01:52 which is really increasing in the copper supply.
01:55 This is a very important project, and it is part of the industrial strategy.
02:00 It is important that there is a copper market in Saudi Arabia
02:03 to take care of the integration of copper and copper-fired steel into many industries.
02:08 Today, we are proud to be part of this investment system.
02:13 Where will the factory be located, Mr. Abdullah?
02:16 And when will the first phase of this project start?
02:20 The project will certainly be in the industrial areas,
02:26 but now the choice may be in Ras Al Khair
02:30 due to the compatibility of the project with the manufacturing facilities in Ras Al Khair.
02:37 The project is now in the stage of engineering preparations and engineering studies.
02:46 The project may be completed by the end of 2027, God willing.
02:53 At the beginning of 2028, we expect the commercial production of the factory to begin, God willing.
03:00 How will the funding processes be today?
03:03 We are talking about more than 5 billion.
03:05 What is the objective of the funding processes?
03:08 Will it be through a loan?
03:10 Will it also be a mixture of funding tools to complete the project?
03:16 The project is expected to cost 5 billion or more than 5 billion.
03:23 It will be a mix of several funding sources.
03:29 The first is the financial capital.
03:35 Our fund in Ras Ana will be 60% of the capital.
03:40 The rest of the funding will certainly be from the industrial development fund.
03:47 The rest will be from commercial banks.
03:50 All of this will be funded by this project, God willing.
03:54 The project is in cooperation with Glinkor International Technology, Engineering,
04:02 Experiences, Operating, Training, Maintenance, and a group of partners.
04:10 We will also work with the companies specialized in the work of copper and copper purification.
04:17 When we talk about the 60% you have, Mr. Abdullah, how much is it likely to increase in the future?
04:26 It is certainly possible to increase, but this is the share of the industrial Rasana fund.
04:35 60% of it was signed into the acquisition agreement from the shares of the company.
04:42 The process is still under way after the engineering studies.
04:49 Unfortunately, there will be another review, but we are committed to investing 60% of the project.
04:59 When we talk about 70% in the first phase, which will cover the local demand,
05:04 the rest is being studied by other markets to start exporting later.
05:10 You have enough local demand for copper.
05:14 Today we are talking about 60% of the demand for copper.
05:22 The demand will increase in the coming years due to the existence of car factories in Saudi Arabia.
05:31 These factories consume a large amount of copper cables,
05:36 as well as the investment in renewable energy.
05:43 We expect that the demand for copper will increase by 70%.
05:49 The increase in demand will be in line with the demand for copper in the coming years.
05:57 If the demand is not 70%, it will be 100%.
06:01 If there is room for export, it will be part of the global market.
06:07 We have signed a preliminary agreement with Google Core.
06:11 So, the prices will be subject to the demand and supply processes for copper.
06:19 Yes, of course, it is a commodity and it is subject to the demand and supply of the global market.
06:25 Thank you, Mr. Abdullah El-Rabdi, CEO of Rasana Al-Maliyah and a member of the company.
06:32 Thank you for all these details.