Jazan Investment Forum sees signing of agreements worth SAR 32B

Logo of Jazan Investment Forum

The Jazan Investment Forum, which kicked off today, witnessed the signing of a number of agreements and memorandums of understanding (MoUs) between several local and foreign entities, valued at about SAR 32 billion and will create more than 7,000 job opportunities.

This included the below:

- An investment agreement signed with Saudi International Industrial Village Co., under which the latter intends to build a multi-industrial complex, in partnership with multiple Korean companies, spanning a land area of more than one million square meters, with investments exceeding about SAR 22 billion, providing 2,500 new jobs.

- A deal sealed with China’s Wangkang Holding Group Co. Ltd. worth SAR 5 billion to establish a plant for the production of photovoltaic float glass.

- An agreement with K Kai Co. to establish a plant to produce sanitaryware with investments worth SAR 1 billion.

- A SAR 356 million agreement with Antap Industrial Holding Co. to establish a caustic soda and hydraulic acid production plant.

- Launching Manaf Real Estate Fund at SAR 400 million.

- Two agreements with ALSAD Modern Beverage Factory Co. Ltd. worth SAR 40 million.

- Amaq Al-Bahri Industrial Co. bagged a SAR 15 million agreement.

Furthermore, Jubail and Yanbu Industrial City Services Co. (Jabeen) signed a number of commercial agreements exceeding SAR 600 million. This is to build a multi-use complex, a banking complex, a bank transfers center, labor housing, as well as two five- and three-star hotels.

The agreements also included one inked between Jazan Development Strategic Office and Saudi Coffee Co. for the manufacturing of coffee in the Jazan region. Another deal was sealed with Leejam Sports Co. (Fitness Time), besides other agreements in favor of the Jazan Chamber of Commerce and Industry with a number of partners.