Riyadh - Sharikat Mubasher: The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed an industrial contract worth SAR 1.5 billion with China’s Xinyi Group (XYG) during the fifth edition of the Future Minerals Forum (FMF 2026).

Under the agreement, the Hong Kong-headquartered group will establish an industrial complex at Dammam Third Industrial City, spanning 350,000 square meters, the authority announced in a statement today.

The project is expected to support heavy industries and promote Saudi industrial capabilities.

The FMF 2026 convenes in Riyadh from 13 to 15 January, bringing together a diverse group of stakeholders, including government representatives, business leaders, multinational organizations, trade associations, and academic institutions.

It provides a platform for leaders, innovators, and investors to connect, collaborate, and shape the future of minerals, driving resilience and responsible supply. It will feature specialized themes and dynamic showcases centered around the most critical topics shaping the global minerals industry.