Saudi Organization for Industrial Estates and Technology Zones will offer during the next six months a new project of its kind for construction of integrated technological zone in the eastern region. The new zone will spread on a total area of more than 3.5 million square meters, which will focus in energy, environment, advanced petrochemicals and new materials, reported the Saudi newspaper, Al-Watan on April 10, 2005.

The Authority began in preparing the standards and framework for developing this region and this stage is expected to last three months, according to the general manager of the Authority, Abdullah al-Saif. Awarding the BOT contracts related to this project is expected within the next six months.

The developing works of the project are inclined to last two years, and its estimated costs are SR262.5 million some $70 million, supposing that the development cost of one square meter in technological regions is SR75 (nearly $20).

The technological region will include areas for construction of technological industries, laboratories, collages, commercial and business center, and services to allow forming of an economic block, which will help in developing high technology industries with strategic dimensions.