Yanbu Royal Commission to invest SAR 49 bln by 2020

21/06/2015 Argaam

The Royal Commission for Yanbu plans to boost industrial investments by SAR 49 billion by the year 2020 as part of its strategic plan, according to Alaa bin Abdullah Nasif, CEO of the Commission.

 

Nasif said the Royal Commission and the private sector have already invested more than SAR 200 billion in several initiatives to develop Yanbu Industrial City. Some of the projects include its partnership with the ministry of petroleum, SABIC, and Exxon Mobil to develop a complex for the production of rubber.

 

Nasif’s comments came while delivering a keynote speech during the fifth Annual Industries Forum. He added that Yanbu will need to fill more than 80,000 jobs in various industrial segments by the year 2030.

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