Saudi Arabia targets 36,000 factories by 2035: Official

Logo of Minister of Industry and Mineral Resources

Saudi Arabia's industrial sector targets establishing 36,000 factories by 2035, said Osama Al-Zamil, Vice Minister of Industry and Mineral Resources.

He added that the sector also targets launching the first Saudi satellite, as well as establishing two factories for the manufacturing of more than 300,000 electric vehicles (EVs) annually.

Further, three advanced factories for the production of biopharmaceuticals and medical vaccines, as well as an innovation center will be established.

The Kingdom will also build four factories for assembling aircraft components and eight metal forming factories. It also targets producing 800,000 tons of specialty chemicals, in addition to setting up 15 factories for modern technologies and Internet of Things sensors. 

The statement came during the panel discussions of launching the National Industrial Strategy. 

Crown Prince Mohammed bin Salman launched, on Oct. 18, the National Industrial Strategy, after it was approved by the Saudi Cabinet, according to data available with Argaam.