Jubail announces $30b industrial mega projectsby CW Staff on Jan 23, 2011
The Royal Commission for Jubail and Yanbu has announced that it intends to establish 16 mega industrial projects valued at almost $30 billion, with construction on some of them already underway.
Over half the total will be swallowed by one project in particular as Saudi Aramco plans to build a massive $18b industrial project within the eastern industrial city of Jubail.
Other projects include four industrial complexes for the Arab Petrochemical Company, an affiliate of SABIC, totalling $4.5b; a $1.86 billion plant for the National Industrial Gas Company of SABIC and a $1 billion plant for the Saudi Acrylic Company.
In a written statement, the Royal Commission said, “The new projects would not only boost the Kingdom’s economy but also create 7,188 direct jobs.”
“There are 42 industrial complexes in Jubail and Yanbu with a total investment of SR676 billion and an annual production capacity of 103 million tons,” it added.
The Royal Commission allocated land for the projects in 2010 and, once fully developed, the industrial city is estimated to attract industrial projects worth SR210 billion and create more than 55,000 jobs.
The Royal Commission is also developing an industrial complex in Ras Al-Zour for mineral, chemical and fertiliser industries – plus an aluminium smelter.
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