Both companies today announced the signing of the shareholders’ agreement to establish a joint venture in the Kingdom of Saudi Arabia, marking a significant milestone in their collaboration.
The Weir Group PLC and Olayan Saudi Holding Company today announced the signing of the shareholders’ agreement to establish a joint venture in the Kingdom of Saudi Arabia, marking a significant milestone in their collaboration to provide advanced mining technology solutions.
The announcement was formally unveiled at the Future Minerals Forum in Riyadh, reflecting both companies’ commitment to serving Saudi Arabia’s rapidly expanding mining sector.
Mining is a key strategic sector under the Kingdom’s Vision 2030, and the joint venture will combine the respective strengths of both organisations to support sustainable growth in this industry. Weir brings its global leadership in mining technology, including expertise in comminution, separation, and tailings solutions, along with its WARMAN® slurry pumping technology. Olayan Saudi Holding Company contributes deep local market knowledge and established business capabilities within the Kingdom.
This formal joint venture builds upon a longstanding relationship between the two companies. Together, they will offer integrated solutions that align with the objectives of Saudi Arabia’s mining ecosystem and broader economic diversification goals.
Following the initial announcement of their intention to form a joint venture at the 2025 Future Minerals Forum, both organizations have worked over the past year to finalise the necessary steps for effective collaboration. The shareholders’ agreement is now signed, and the companies anticipate the joint venture to commence operations by the end of Q1 2026, pending customary government approvals.
