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Home / NEWS / Planned energy city to contribute $6bn to Saudi economy

Planned energy city to contribute $6bn to Saudi economy

by Malcolm Dias on Jul 17, 2017


Eng. Khalid Bin Abdulaziz Al-Falih
Eng. Khalid Bin Abdulaziz Al-Falih

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The planned industrial energy city project, to be developed in Saudi Arabia's oil-rich Eastern region, will provide thousands of direct and indirect jobs and contribute $6bn (SAR22.5bn) to the kingdom's economy.

According to Eng. Khalid Bin Abdulaziz Al-Falih, Saudi Arabian Minister of energy, industry and mineral resources, the project aims at localising industries supporting the energy sector and cover industries related to oil exploration, production and refining, petrochemicals, conventional electric power, water production and treatment.

Al-Falih, who is also the chairman of Saudi Aramco and of Saudi Industrial Property Authority (Modon), thanked King Salman Bin Abdulaziz Al Saud for his directive to establish the industrial energy city, according to the official Saudi Press Agency (SPA) report.

He pointed out that the decision to establish a new industrial city for energy is in line with the kingdom's vision 2030 and supports the vital infrastructure of the supply chain in the kingdom.

The localisation of new industrial and service facilities that help to innovate, develop and compete globally, he added.

"The new energy city will be a milestone in the efforts of localising of energy-related industries and services and will attract international companies' investments, in addition to establishing and developing a large number of small and medium companies and stimulating innovation and entrepreneurship,” said  Amin Hassan Al-Nasser, Saudi Aramco president and chief executive officer.



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