Toyota inks deal to explore building factory in Saudi Arabia

Saudi Arabia’s National Industrial Cluster Development Program (NICDP) signed an agreement with Japanese carmaker Toyota in Tokyo on Monday to study the feasibility of building a factory to manufacture vehicles and parts in the kingdom.

The deal took place on the sidelines of King Salman’s visit to Japan, state news agency SPA reported.

The study will look into establishing a local supply base that would use materials produced by major Saudi companies such as SABIC, Maaden and Petro Rabigh.

The project also aims to develop and attract Saudi talent through training programs, it was reported.

Abdul Latif Jameel Group, Toyota’s Saudi distributor, will contribute to the feasibility study.