Two Saudi industry estates underway
The Saudi Minister of Industry and Electricity, Hashem Abdullah Yamani, has recently approved the allocation of land to 46 new industrial projects in the Riyadh and Dammam industrial estates, according to London based Al-Sharq Al-Awsat daily.
The projects, whose cost is estimated at 696.3 million Saudi riyals ($185.6 million), consist of manufacturing plants for chemical, plastic, mineral, food, medical supplies, furniture, wooden and glass products.
The Saudi Industrial Services Company (SISCO) recently completed a feasibility study on the establishment of a new industrial estate in Jeddah, with a projected cost of five billion dollars. SISCO stressed the importance of building the new industrial estate in Jeddah, where another industrial estate already exists, to promote and develop the industrial sector in the kingdom.
Developing the industrial sector is considered high Saudi priority. The government has been encouraging the development of its manufacturing industries in an attempt to reduce its dependence on oil revenues and diversify its economy.
To this end the government has provided a range of incentives to invigorate the private sector to participate in the industrial effort. Eight industrial estates exist in the kingdom providing manufacturing companies with inexpensive infrastructure and services. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)