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Yanbu Industrial City targets SAR 49m investments by 2020 – Official

Yanbu Industrial City targets SAR 49m investments by 2020 – Official
(Photo Credit: Commission's website)

Riyadh – Mubasher: Yanbu Industrial City is working on achieving new industrial investment by 2020 at a value not less than SAR 48.75 billion ($13 billion) over the current industries, the Executive President for the Royal Commission at Yanbu said.

Alaa Bin Abdullah Nassif added that total investments of private sector in the industrial, trade, and housing projects in the industrial city will reach $68 billion.

The royal commission signed a memorandum of understanding (MoU) with the China North Industries Corporation (Norinco) to contribute with its expertise in building a logistic service centre, including railway network station.

Nassif noted that the aim of building the centre is to offer advanced logistic services to investors through air, maritime, and railway transportation networks. 

Yanbu Industrial City is the corner stone for the Kingdom’s manufacturing economy in line with the development goals and Vision 2030.