【SMM Aluminium Flash News】PIF and Red Sea Aluminium Holding Company will collaborate to develop an aluminum complex in Saudi Arabia.

Published: Jan 19, 2026 13:07

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According to foreign media reports, the Saudi Public Investment Fund (PIF) and Red Sea Aluminium Holdings Limited (RSAH) have reached an agreement to develop a downstream aluminum complex in Yanbu, western Saudi Arabia. Through this cooperation, Red Sea Aluminium Industries Limited (RSAI) will introduce smelting technology to Saudi Arabia and establish one of the largest continuous casting facilities in the Middle East to produce a range of downstream aluminum products. The investors, PIF and RSAH [a joint venture established by Innovation Global Industries, Innovation New Materials, and Shandong Innovation Group], signed the agreement at the Future Mining Forum in Riyadh. Preliminary terms are contingent on the partners finalizing the relevant transaction documents, fulfilling preconditions, and obtaining all necessary approvals and authorizations.

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