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Royal Commission for Jubail and Yanbu has signed 30 agreements and 10 contracts with a total value exceeding 19 billion riyals

1 Jan 2018

Royal Commission for Jubail and Yanbu has signed (30) agreements to allocate sites for industrial and commercial investment projects in Jubail, Yanbu and Ras Al Khair with a value of more than 18 billion riyals. Also signed 10 contracts worth more than SR 1 billion, aimed at establishing and developing infrastructure for the same cities. These include the construction of residential units, educational facilities, water stations, roads, electricity and communication networks, road maintenance and design services for the Shipbuilding Complex. The Chairman of the Royal Commission for Jubail and Yanbu, in charge Dr. Musleh bin Hamed al-Otaibi, said that the Commission was able, thanks to God Almighty, and generous support of the wise leadership to attract local and foreign investments in its cities amounted to one trillion two hundred billion riyals, while the government expenditure on the cities of the Royal Commission since its establishment One hundred and fifty billion Riyals, which highlights the important and pivotal role played by the Royal Commission as an important arm to strengthen the national economy and achieve the aspirations to diversify sources of income and create a broad industrial base. The In-Charge Chairman said that the cities of the Royal Commission distinguished with high-level infrastructure and competitive advantages that have made it a global model. This has provided an attractive investment environment that resulted in the creation of giant industrial Complexes that implement advanced technologies and the provision of hundreds of thousands of direct and indirect employment opportunities for citizens. The private sector is an important partner of the Royal Commission and a major contributor to the development of Saudi Arabia by creating the appropriate investment environment through stating regulations to simplifying transactions that would allow the private sector to play main role in the economy.

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