Latest news with #INNOPROM
Business Recorder
2 days ago
- Business
- Business Recorder
Soviet-built PSM: Russia, Pakistan discuss revival
ISLAMABAD: In a bid to expand industrial and economic cooperation Pakistan and Russia has discussed revival and modernization of Pakistan Steel Mill (PSM) at the highest level during a meeting between Russia's Deputy Prime Minister (DPM) Alexei Overchuk and Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan and on Foreign Affairs, Ambassador Syed Tariq Fatemi. SAPM Haroon Akhtar Khan told Business Recorder that he along with senior officials of the Ministry of Industries and Ambassador Syed Tariq Fatemi called on Russia's DPM, on Thursday, to discuss ways to expand industrial cooperation with aespecial focus on reviving PSM. He said earlier, on the sidelines of the INNOPROM Annual Industrial Forum in Yekaterinburg, he had met with his Russian counterpart on the same subject. Russian Trade and Industry Minister Anton Alikhanov focused on reviving Pakistan's dormant steel industry and enhancing bilateral trade. The discussions also explored ways to enhance trade ties and promote industrial collaboration between the two countries, he maintained. Pakistan, Russia take holistic stock of bilateral ties Haroon Akhtar conveyed that Pakistan attached high importance to ongoing discussions on the new Steel Mills in Karachi, as the project carried an important legacy of Pakistan's relations with Russia that could serve as a 'leap forward' symbol of future cooperation and partnership. The SAPM gave an overview of the investment-friendly industrial policy of Pakistan that had ensured macro-economic stability, achieved under the present Government. INNOPROM is Russia's largest annual industrial trade fair, bringing together government delegations, business leaders and technology firms from over 30 countries to explore partnerships in manufacturing, engineering and high-tech industries. At the outset, SAPM Fatemi conveyed greetings and good wishes of Pakistan's leadership to Russia's Deputy Prime Minister Overchuk and to the Russian leadership. The SAPM stressed that goodwill at the leadership level was ensuring positive momentum in bilateral ties between the two countries. The two sides also reviewed the entire gamut of bilateral relations in all areas of mutual interest, including political, trade and economic cooperation, as well as energy, connectivity, industrial and agricultural cooperation. Copyright Business Recorder, 2025
Mid East Info
4 days ago
- Business
- Mid East Info
ROSHN Group Participates at INNOPROM 2025, Russia's Largest Industrial Trade Fair, to Promote Collaboration in the Real Estate Sector
Now in its 15 th year, INNOPROM International Industrial Exhibition is the main B2B event in Russia and globally year, INNOPROM International Industrial Exhibition is the main B2B event in Russia and globally The Kingdom of Saudi Arabia is the event's official Partner Country amid broad international participation ROSHN Group will be showcasing how it is leading in the development space by showcasing its various projects around the Kingdom Riyadh, Saudi Arabia,July 2025 – ROSHN Group, Saudi Arabia's leading multi-asset real estate developer and a Public Investment Fund (PIF) company, is participating for the first time at INNOPROM, Russia's largest industrial trade fair. Joining as part of the country's Invest Saudi trade delegation – the Kingdom is this year's official partner country for INNOPROM – ROSHN Group will be showcasing its developments and engaging in discussions with potential partners during the event, which is taking place in the city of Yekaterinburg, between the 7th and 10th of July. ROSHN Group is present at the Invest Saudi pavilion, where its executives will be sharing updates on the Group's progress to date in developing communities and destinations that raise quality of life. The Group is currently developing projects throughout Saudi Arabia, focusing on areas such as residential communities, retail and commercial offices, education, healthcare, hospitality and sports. With a mandate that includes raising the bar for development through innovation and supporting local content, ROSHN Group is redefining development. The International Industrial Exhibition, known as INNOPROM, is a dedicated business-to-business platform that connects manufacturers with buyers from across the globe. Attracting more than 100,000 visitors from 90 countries, it serves as a vital hub for fostering commercial relationships and industry collaboration. With a portfolio of large-scale, mixed-use developments across the Kingdom, ROSHN Group is exploring partnerships that support innovation and sustainability in real estate. The Group's expansive asset portfolio spans residential, commercial, retail, sports, education, hospitality components and more. At INNOPROM, ROSHN will spotlight the breadth and strategic significance of its developments, reinforcing its role in shaping the Kingdom's future. The Group will be present at the Kingdom of Saudi Arabia's pavilion throughout the event.
Argaam
4 days ago
- Business
- Argaam
Saudi Arabia, Russia trade exchange hits SAR 3.5B, huge opportunities ahead: Alkhorayef
Minister of Industry and Mineral Resources Ibrahim Alkhorayef said that trade exchange between Saudi Arabia and Russia currently stands at nearly SAR 3.5 billion, adding that there is a remarkable growth in terms of ratios, with greater ambitions and even huge opportunities ahead. In an interview with Argaam on the sidelines of Saudi Arabia's participation as a partner country at the INNOPROM International Industrial Exhibition currently held in Russia, Alkhorayef stated that Russian companies have shown growing interest in the Saudi market. He noted that the Kingdom also seeks to attract companies that possess technologies in metal processing, military industries, industrial equipment, and other fields. He pointed out that the iron industry is among the sectors the Kingdom aims to develop, noting that Saudi Arabia has launched a dedicated strategy to develop this sector, and Russia is considered a qualified country to export iron to the Saudi market. He added that the Kingdom also aims to develop the titanium industry, given its strategic importance both locally and globally. Moreover, the launch of the National Industrial Strategy and the Mining Strategy has created significant opportunities for cooperation between the two countries, especially in light of global challenges that have affected supply chains. These challenges have made Saudi Arabia an attractive hub for investments, according to the minister. Meanwhile, Alkhorayef noted that Russian investments in the Kingdom's industrial sector are still limited, which is attributed to the fact that several countries, including Russia, had not previously viewed Saudi Arabia as a hub for expanding into other markets and, instead, investments were focused on serving domestic demand. He pointed out that this view has now changed amid increased domestic demand, huge government projects, and localization and local content programs. 'The goal is to transform the Kingdom into a global platform for manufacturing, exporting, and logistics, making it an attractive destination for major firms to build capabilities that can expand worldwide,' he said. Alkhorayef also clarified that the Saudi Industrial Strategy includes over 800 projects worth more than SAR 1 trillion, stressing the strong growth in the industrial sector. 'For example, MODON's industrial cities currently host more than 1,400 factories under construction, along with 2,000 factories waiting for industrial land allocation. This reflects the sector's rapid growth and the confidence investors have in Saudi Arabia's industrial environment,' he said. This growth reflects the National Industrial Strategy, the localization strategy, and local content targets, said the minister, adding that major companies such as Aramco, SABIC, stc and Maaden have localization programs that have opened up significant opportunities for both Saudi and international investors. Alkhorayef also said that Saudi Arabia's selection as a partner country for this year's edition of the exhibition underscores its international position and the opportunities available across various sectors, particularly in industry. He indicated that the exhibition aims to showcase the opportunities available in the Kingdom, especially in the industrial and educational sectors, highlighting that the Ministry of Tourism is participating with a special pavilion to promote tourism in the Kingdom, while the Ministry of Investment, through its 'Invest in Saudi' initiative, is working to introduce visitors to opportunities in other sectors.
Zawya
4 days ago
- Business
- Zawya
ROSHN Group participates at INNOPROM 2025, Russia's largest industrial trade fair
Now in its 15th year, INNOPROM International Industrial Exhibition is the main B2B event in Russia and globally The Kingdom of Saudi Arabia is the event's official Partner Country amid broad international participation ROSHN Group will be showcasing how it is leading in the development space by showcasing its various projects around the Kingdom Riyadh, Saudi Arabia – ROSHN Group, Saudi Arabia's leading multi-asset real estate developer and a Public Investment Fund (PIF) company, is participating for the first time at INNOPROM, Russia's largest industrial trade fair. Joining as part of the country's Invest Saudi trade delegation – the Kingdom is this year's official partner country for INNOPROM – ROSHN Group will be showcasing its developments and engaging in discussions with potential partners during the event, which is taking place in the city of Yekaterinburg, between the 7th and 10th of July. ROSHN Group is present at the Invest Saudi pavilion, where its executives will be sharing updates on the Group's progress to date in developing communities and destinations that raise quality of life. The Group is currently developing projects throughout Saudi Arabia, focusing on areas such as residential communities, retail and commercial offices, education, healthcare, hospitality and sports. With a mandate that includes raising the bar for development through innovation and supporting local content, ROSHN Group is redefining development. The International Industrial Exhibition, known as INNOPROM, is a dedicated business-to-business platform that connects manufacturers with buyers from across the globe. Attracting more than 100,000 visitors from 90 countries, it serves as a vital hub for fostering commercial relationships and industry collaboration. With a portfolio of large-scale, mixed-use developments across the Kingdom, ROSHN Group is exploring partnerships that support innovation and sustainability in real estate. The Group's expansive asset portfolio spans residential, commercial, retail, sports, education, hospitality components and more. At INNOPROM, ROSHN will spotlight the breadth and strategic significance of its developments, reinforcing its role in shaping the Kingdom's future. The Group will be present at the Kingdom of Saudi Arabia's pavilion throughout the event.
Asharq Al-Awsat
5 days ago
- Business
- Asharq Al-Awsat
Alkhorayef Highlights Opportunities for Russian-Saudi Industrial Collaboration
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized on Monday the enduring strength of economic ties between Saudi Arabia and Russia. Speaking at the Russian-Saudi Dialogue Forum, held as part of INNOPROM 2025 in Yekaterinburg, he stressed the importance of Saudi Arabia's mining sector as a vital enabler for economic diversification as part of the Kingdom's objectives under Saudi Vision 2030. Underscoring the Kingdom's vast mineral resources, he highlighted its strategic geographic location as a global trade hub that connects three continents, offering promising opportunities for international investors. Alkhorayef praised the outcomes of the Saudi-Russian Joint Committee, emphasizing its role in identifying investment opportunities across key sectors and enhancing knowledge exchange between the two countries. The minister called on forum participants to continue strengthening cooperation and creating tangible projects that support the sustainable growth of both Saudi Arabia and Russia. He also extended an open invitation to Russian counterparts to visit the Kingdom, explore its diverse investment prospects, and experience its rich cultural heritage, noting that Saudi nationals have been showing increasing interest in travel to Russia. Alkhorayef praised the longstanding relationship between Saudi Arabia and Russia that has spanned over 100 years, creating a foundation to advance joint initiatives in industry, mining, technology, and global trade. Saudi Arabia and Russia's economic relations have already witnessed monumental growth in recent years, particularly in the fields of industry, mining, petrochemicals, and advanced manufacturing. Bilateral non-oil trade increased from $491 million in 2016 to $3.28 billion in 2024, reflecting a growing partnership between the two countries. Alkhorayef is currently leading a high-level Saudi delegation to Russia, accompanied by senior officials from 18 government entities and more than 20 leading national companies representing priority sectors including industrial services, technology, manufacturing, machinery, mining, industrial automation, energy, tourism, and culture.
