videoLithium opportunity can open new chapter in Saudi energy diversification plan: NESR CEO
- Lithium is a critical component for batteries used in electric vehicles, consumer electronics, and renewable energy storage, which aligns with the Kingdom's industrial ambitions.
- An agreement between NESR and Saudi Aramco aims to develop a lithium demonstration project valued at approximately $200 million, producing 2,000 tonnes of battery-grade lithium carbonate annually by late 2027.
- The initiative will leverage Saudi Arabia’s abundant reserves of oil, gas, and minerals while focusing on localizing technology and manufacturing capabilities within the Kingdom.
