Arab News, Tuesday, May 30, 2023 | Thul-Qidah 10, 1444
Investments in Kingdom’s special economic zones reach $12.6bn
Saudi Arabia:
Affirming Saudi Arabia’s evolution into a global trade hub, total anchor
investments in its four special economic zones reached SR47.2 billion ($12.6
billion) to date, it was disclosed at a forum.
Apart from the existing investments made by
companies like Lucid and Seera, the Saudi Special Economic Zones Investment
Forum in Riyadh on Monday also saw new investment pledges for projects in zones
established in King Abdullah Economic City, Ras Al-Khair, Riyadh, and Jazan.
It was announced that Himmah Projects will invest
SR2.15 billion in King Abdullah Economic City to establish an automotive and
mobility export hub catering to the Middle East and Africa.
SIAC Construction also pledged to invest SR200
million in the special economic zone in King Abdullah Economic City. The company
announced establishment of a specialized building materials hub to support
infrastructure projects in the region.
McDermott Arabia Co. will invest SR375 million in
Ras Al-Khair to develop fully integrated engineering construction solutions for
the energy industry. Another investment worth SR2.14 billion will be made by
Makeen Energy in Ras Al-Khair.
China-based Baosteel pledged SR15 billion to
establish an integrated steel plate manufacturing facility in Ras Al-Khair.
In Jazan, aquaculture company Pure Salmon will
invest SR2 billion to sustainably produce salmon locally, while Masharaq
announced investments worth SR33 million to establish a food facility in the
special economic zone.
China-based industrial investor Wangkang will
invest SR5 billion in Jazan special economic zone to produce a range of glass
products.
The Kingdom’s General Authority for Civil Aviation
signed an agreement with Swiss-based Valcambi and Ajlan and Brothers to
establish a precious metal refinery in the Riyadh integrated special logistics
zone.
Saudi Arabia’s Communications, Space and
Technology Commission signed a memorandum of understanding with Microsoft to
discuss potential collaboration in cloud computing at the King Abdulaziz City
for Science and Technology special zone.
The commission also signed an MoU with Oracle to
explore cloud computing opportunities at the Cloud Computing SEZ located at the
King Abdulaziz City for Science and Technology.