EV Metals achieves strategic milestones for its Battery Chemicals Complex in Saudi Arabia

EV Metals achieves strategic milestones for its Battery Chemicals Complex in Saudi Arabia

EV Metals Arabia Company for Industry (EVM Arabia), a subsidiary of EV Metals Group plc (EVM), a global battery materials and technology company, announced the signing of agreements for the allocation of 127 hectares of land from The Royal Commission at Yanbu and a gas and power allocation from the Saudi Arabian Ministry of Energy.

These strategic and significant milestones are foundational for the development of EVM’s Battery Chemicals Complex, to position the Kingdom as a global midstream hub for the production of high purity chemicals required by electric vehicle and battery cell manufacturers, delivering into Vision 2030.

The Royal Commission at Yanbu today signed an investment agreement with EVM Arabia at Future Minerals Forum in Riyadh to lease 127 hectares of industrial land to EVM Arabia for the development of the Battery Chemicals Complex of EVM with a value of SR3,375 million at Yanbu Industrial City.

This follows the grant of an Environmental Permit to Construct by the Royal Commission at Yanbu effective from 2nd January 2023, for which a contract will be awarded later this year.

EVM Arabia has also received a gas and power allocation from the Saudi Arabian Ministry of Energy. The gas allocation is equivalent to a daily standard