OTS - Saudi Industrial City Giga-Project Adds New Direct Investments and Contracts to its Total Investments of 26,7 billion USD
2022. November 24. 09:07
Jazan City, 24 November, 2022 (APA/OTS) - New investment agreements
will contribute to food sustainability in the country and further
develop the advanced living environment for Jazan City for Primary
and Downstream Industries
The Kingdom of Saudi Arabia implements the ambitious strategies
of Vision 2030 to diversify the economy and unlock the potential of
non-oil sectors. One of the giga-projects launched in alignment
with Vision 2030 is Jazan City for Primary and Downstream
Industries (JCPDI), an industrial city and strategic logistics hub
in the southwestern region of the country, on the Red Sea. Today
JCPDI announced several investment agreements and projects worth
over 267 million USD. New investments in JCPDI aim to promote the
economic diversification of the Kingdom, increase the private
sector contribution in the economy and attract new foreign direct
investments. Overall investments in JCPDI now exceed 26,7 billion
USD.
Khalid bin Mohammed bin Abdulrahman Al-Salem, the Chairman of
the Royal Commission for Jubail and Yanbu (RCJY), stated: "Our goal
is to make sure that JCPDI is attractive to potential investors. We
also want to promote the city as a vibrant place for businesses and
communities. The newly signed agreements will generate around 300
new direct and indirect high-quality jobs and contribute to the
local GDP".
CEO of JCPDI, Dr. Fahd bin Dhaifallah Al-Qurashi, added: "The
first investment agreements relate to JCPDI's key strengths:
logistics, food processing, and metals conversion. Our agreements
with food processing companies are not only an investment
opportunity - they also help to achieve national sustainable goals
and self-sufficiency in grain products and animal feed".
- Full version and image available at Presseportal -
For further inquiries please contact:
External Press Office
Philipp Koneev, Senior Account Manager, MC Group
p.koneev@mcgroup.com
+49 (0)30 65 000 540
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