According to Reuters, the projects are part of a larger plan to steer investment into the midstream minerals and metals sectors. 
 
"These targeted investments represent an important 'down payment' in our efforts to move beyond exploration and extraction and into the creation of integrated value chains, a central focus of our overall mining strategy," Industry and Mineral Resources Minister Bandar al-Khorayef said in the statement, according to Reuters. 

Reuters has more here.