DAMMAM, 24 April 2005 — The canvas is very huge and there are multiple hues and brushes available. Opportunities abound. It is only a matter of time. The large towering cranes, rapidly completing high-rise buildings visible all over tell the story rather lucidly. The writing on the Industrial wall is clear for all to read.
The Saudi industrial horizon is brightly lit, both literally and figuratively. It lights up the eye of the potential investor. There is much to be had and the current trends in the liberalization of investment laws is attracting the wise and dynamic from all over the world. Privatization is on the rise. The institutional or the individual investor envisages a scenario that is bright and rewarding. The confidence is growing.
Under the leadership of Prince Mohammad ibn Fahd, governor of the Eastern Province, the region’s Chamber of Commerce and Industry will be launching the Saudi Mega Projects 2005 from May 7 to 9.
It is visualized as the event of the year when new opportunities in the energy and services sectors will be reviewed. The conference will focus on projects and investment opportunities in giants like Saudi Aramco, Saudi Electricity Company, Royal Commission for Jubail & Yanbu, Saudi Railways Organization, Saudi Basic Industries Corp. (SABIC), Maaden and SWCC.
Seven interactive sessions are planned. Panel discussions are also on the anvil. The aim would be to review the new and future projects in oil and gas, in mining and transportation, including the railway expansion program, Saudi Arabia’s 20-year electricity and water plan — throwing light on the planned expansion of the national grid and potential link up to a GCC grid, as well as the current role and future plans of major Saudi companies. Over 400 delegates are expected to attend. A large cycle for industrial growth is envisaged. Once the mega projects get under way, the entire services industry will get a big boost. Investment in one will lead to another as there is what is known as the knock-on effect. Employment opportunities will be created which will give a positive impetus to the economy. The private sector is expected to play a major role.
“The industry leaders will represent the details of their investment projects, outlining the opportunities for local and international companies to participate through the provision of engineering, construction and manufacturing services. The conference will be structured to encourage active discussion and debate between panelists and the audience”, stated Abdul Rahman Al-Rashid, chairman of the Eastern Province Chamber of Commerce and Industry.