The cost of investments in Jazan Economic City amounts to $70 billion, said president and CEO of Saudi Aramco Khalid A. Al-Falih, at the Jazan Economic Forum (JEF).

Al-Falih noted that Saudi Aramco will build Phase I of the project, stating “Saudi Aramco has been entrusted to build Jazan’s strategic infrastructure through the development of a refinery and terminal, a power plant, a commercial seaport, a water desalination plant, roads and water and sanitary drainage systems, in addition to connecting electricity.”

It is worth noting that Jazan refinery is one of three large refineries of petroleum in Saudi Arabia.

The CEO forecasted that some units of the refinery will start working by about 2017, yet the refinery will be completed by 2018.

Meanwhile, Saudi Aramco and the Technical and Vocational Training Corporation (TVTC) have signed the agreement of the Jazan Contractors Alliance for Training and Employment.

“The Saudi Aramco – TVTC alliance is an innovative strategic partnership with the refinery project's contractors to train and employ 5,000 young people from Jazan in various construction-related professions and crafts over four years. Longer term, we aspire for the number of jobs available in Jazan to reach 75,000,” concluded the CEO.