DAMMAM – France is keen to offer technology and services covering entire gamut of mining sector from exploration to downstream industries in the wake of Saudi Arabia's plan to transform its nascent mining industry into the “Third Pillar” of the economy after oil and petrochemicals. A high level mining delegation from France led by Michael Gelenine, Commercial Counselor (Ubifrance) of French Embassy in Riyadh, visited Eastern Province Chamber of Commerce and Industry here Wednesday and introduced its newly developed technology called ‘StruxureWare' for mining, minerals and metals in Saudi Arabia. The delegation was represented by a number of leading French companies like Alcatel Lucent, Magellium, Technip, Thales, Veolia, PMG Consultant, MCS Mining and Schneider Electric. During a meeting with the local businessmen, Schneider Electric introduced its newly developed technology and said that it was a comprehensive suite of applications that optimizes production operations to reduce costs and improve sustainability within the mining, minerals and metals operations. “This is the newest addition to our software, noted a representative of Schneider Electric, a global specialist in energy management. MCS Mining, a newly established joint venture between Modern Chemicals Co. of Saudi Arabia and EPC Groupe from France offered its drilling, blasting and explosive products and services from its two manufacturing sites in the Kingdom. “We are able to cover the entire Saudi market,” said Jean Francois Couvrat of the company. In addition, French delegation represented an assortment of products and services in mining, oil & gas, petrochemicals, engineering, construction, project management, consultancy and banking services. Mohammed T. Radwan of the Chamber, in a presentation, focused on investment opportunities in Saudi Arabia particularly in the Eastern Province since it was a strategic location serving as a transit point to other GCC markets. He said that Saudi Arabia is the largest recipient of FDI in the Arab world and its Eastern Province is the largest in the country in attracting FDI. Eastern Province received $14.582 billion, nearly a third of the Kingdom's total investment, during the two-year period ending in the third quarter of 2013.
