Arab News, Wednesday, Mar 15, 2023 | Sha'ban 23, 1444
Jubail Industrial City to see $2.1bn investment boost: Saudi industry minister
Saudi Arabia: A hospital, a bookstore
and a hydrogen plant are among the developments heading for Jubail after the
Saudi government signed off a package of investment deals worth SR8 billion
The Kingdom’s Minister of Industry and Mineral
Resources, Bandar Alkhorayef, revealed the agreements on Twitter, with
investments ranging from industrial to commercial services — all focused on
providing services to the residents and enhancing the quality of life in Jubail
The agreements were signed by Ahmed bin Zaki
Al-Hussein, CEO of the Royal Commission in Jubail, with one seeing the National
Center for Environmental Compliance Control building a headquarters with an
estimated investment of SR270 million and offering 80 jobs for Saudi workers.
In addition to creating 50 jobs for Saudi
citizens, Jarir Marketing Co. will run a branch of Jarir Bookstore, as well as a
collection of restaurants and cafes in Sudair’s city center in the Al-Fanateer
district, for SR40.1 million.
With an estimated investment of SR1.2 billion, Dr.
Sulaiman Al-Habib Medical Group will build and operate a hospital, providing
1,800 job opportunities for Saudis.
Numerous industrial developments have also been
agreed, with a consortium of Saudi Aramco and Air Products Qudra Company
building and operating a hydrogen plant in the Al-Fayhaa area, with a projected
investment of SR30 million.
The Advanced Circular Materials Co. and the Royal
Commission in Jubail have agreed to establish and run a plant to produce
vanadium oxide and its accessories in what would be a SR3 million investment
deal that is forecast to create 421 direct jobs.
The Union Crown Company for Paper Industry will
construct and operate a factory to produce large-sized paper rolls for an
investment estimated at SR380 million in the PlasChem area, which will provide
283 direct jobs.
Khalid Al-Juffali Co. is set to build a plant to
produce di-methylene isocyanate, with an estimated investment of more than SR750
million, creating 280 direct jobs.
Baalbaki Chemical Industries, known as BCI, will
build and operate a plant to produce polyester materials, polyether mixture and
polymer methylene compound in PlasChem, with an estimated investment of SR225
million, providing 232 direct jobs.
Dow Saudi Arabia will establish and operate a
facility to produce amine solvents in the PlasChem area, with an estimated
investment of more than SR132 million, providing 21 direct jobs.
With an estimated investment of more than SR1.5
million, Calico Co. Ltd. plans to build and operate a facility in Jubail
Industrial City, to produce protein and nutrients for marine organisms.
Building and operating a plant to produce methyl
diethanolamine and methylamine compounds with Al Hujailan/Dow Co. for a value of
SR375 million, estimated to create 75 direct jobs.
These projects support the Royal Commission’s plan
to support the manufacturing sector. The products that will be produced have a
wide range of uses, particularly in producing large batteries and intermediate
agents for chemical reactions.
Some of these products contribute to the Kingdom’s
fisheries and food security.
Alkhorayef has been vocal about trying to secure
more private sector funds into the Kingdom, and speaking at the Sixth
Industrialist Council meeting organized by the Riyadh Chamber of Commerce in
February, he called on the business sector to take advantage of the tremendous
opportunities in Saudi Arabia.
The announcement comes just two months after the
Royal Commission for Jubail and Yanbu signed five agreements worth more than
SR43 billion to establish projects in the cities of Ras Al-Khair for mining
industries and Yanbu Industrial.