Once fully operational, the project spanning three sites will become the world's largest battery energy storage system. Saudi Arabia, already a global powerhouse in oil and gas, has now set its sights on a new frontier— lithium extraction from oilfield brine. The project spans three. Saudi Arabia is taking significant steps to position itself as a leader in battery innovation, leveraging its vast natural resources and strategic investments in energy transition minerals, an industry expert told Al Arabiya English in an interview. 5 -- Capchem Technology, a Chinese supplier of fine chemical products, said it plans to invest USD260 million building a lithium-ion battery electrolyte solvent plant in Saudi Arabia and up to CNY200 million (USD28.