Saudi Arabia's Aluminum Products Company (ALUPCO) and Hong Kong/China-based Asia Aluminum Group (AAG) have signed an agreement to establish the largest integrated downstream aluminum industrial base in Saudi Arabia.

The agreement was reached in Hong Kong. It involves a total investment of up to US$500 million to build the Riyadh base over 1.5 million square meters.

Developed in two phases, the project focuses on aluminum extrusion, solar panel frames, and modular construction. Phase one, scheduled to be completed in 30 months, will create more than 1,800 jobs.

The facility's projected capacity includes 200,000 tons of aluminum extrusion and 30 million solar panel frames for 25 GW of new solar projects annually, as well as 30,000 residential modules per year.