Hailiang to build copper processing JV in Saudi Arabia

Zhejiang Hailiang Co., Ltd. plans to sign an investment cooperation agreement with Rawas National Investment Holding Company to jointly develop a high-end, intelligent copper processing facility in Dammam, Saudi Arabia.

Total planned investment for the project is approximately USD566 million. The two parties intend to establish a joint venture in which Hailiang holds a 51% stake and Rawas holds 49%.

The project is designed as an integrated production base with annual capacity of 150,000 tonnes of copper processing products, including 30,000 tonnes of copper tube, 20,000 tonnes of copper bar, 50,000 tonnes of recycled copper, and 50,000 tonnes of copper foil.