RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources inked three memoranda of understanding with partners during the Hannover Messe 2026 in Germany. The agreements, which aim to advance electrical manufacturing, smart grid technologies, and industrial localization, include cooperation with Phoenix Contact Saudi Arabia, Alfanar Co., Abunayyan Trading, and the United Technology of Electric Substations and Switchgears.
The agreements were revealed at the Kingdom’s participation in the Hannover Messe, which was held in Germany from April 20 to 24, when authorities used the global industrial platform to showcase Saudi Arabia’s manufacturing ambitions and attract foreign investment.
The MoUs are part of a larger push to attract foreign investment and strengthen industrial relationships, which aligns with Saudi Arabia’s aim of localizing high-value manufacturing and accelerating knowledge transfer.
The participation comes as an extension of the Kingdom’s efforts to consolidate its position as an attractive destination for industrial investment and to expand its international partnerships,” the ministry’s statement said.
At the exhibition, the Saudi pavilion displayed investment potential in the industrial and mining sectors, emphasizing the Kingdom’s efforts to adopt Fourth Industrial Revolution technology to boost productivity and competitiveness.
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