Mauritania’s Ambassador to Riyadh, Moktar Ould Dahi, reported that a new joint initiative has been launched to strengthen economic cooperation between Mauritania and Saudi Arabia. In an interview with Asharq Al-Awsat, he explained that Mauritania’s state-owned mining company Société Nationale Industrielle et Minière (SNIM) and Saudi steel producer Hadeed will form a joint venture called “Takamul.”
The project is currently in the funding stage and aims to develop a new iron ore mine in Mauritania with an annual production capacity of 12-14 million tons, it was noted.
The ambassador said that establishing direct shipping routes would support trade between the two countries by addressing logistical challenges. It was highlighted that the lack of direct transport and long distances currently pose obstacles.
In recent years, Saudi investments have primarily targeted small and medium-sized enterprises (SMEs) in agriculture and manufacturing. To support private sector partnerships, the Saudi-Mauritania Business Council was established. Some projects in Mauritania are financed by Saudi funds, and the Saudi Fund for Development currently supports projects worth a total of $340 million.
The ambassador stated that these resources are expected to translate into new joint ventures in the near future. He also emphasized that relations between the two countries remain strong, supported by regular high-level consultations and formal cooperation committees.
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