$5.8bn worth of factories ongoing in Saudi

A total of 816 factories and industrial plants are currently being built in Saudi Arabia with a combined value of $5.8bn, according to local media

A total of 816 factories and industrial plants are currently being built in Saudi Arabia.
A total of 816 factories and industrial plants are currently being built in Saudi Arabia.

A total of 816 factories and industrial plants are currently being built in Saudi Arabia with a combined value of $5.8bn, according to local media.

The under construction factories are expected to employ a workforce of 65,816 people, a local daily said, citing the Saudi Ministry of Energy, Industry and Mineral Resources.

About 342 factories in the metals and minerals industry are underway, followed by the rubber and plastics industry with 128 factories, the food and beverages sector with 59 factories, and the chemical products industry with 55 factories.

The number of factories operating in the kingdom reached 7.788 plants at the end of the first half of 2017, with a total capital of $291bn (SR1.094tn).

Saudi Arabia will launch an industrial sector stimulus package in the fourth quarter of the year as part of an incentive to enhance its non-oil economy.

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