YANBU, 16 December 2007 — The total volume of investments in the Yanbu Industrial City would reach SR162.8 billion in five years.
Aqili Khawaji, director general of Royal Commission for Jubail and Yanbu, told Arab News yesterday “the royal commission would invite tenders worth SR500 million to construct the infrastructure facilities for heavy and light industries including a coastal road. The construction of power stations for the new industries are already under way,” he said.
The projects, for which the commission plans to invite tenders, include SR600 million-worth seafront development and a SR300 million for women’s college. A local gas distribution network to supply gas to light industries is expected to be completed in the third quarter next year, he said.
Khawaji also said investors were interested to invest SR75 billion in petrochemical and metallurgy industries at the Yanbu 2 Industrial City. The commission has already completed the preparation of the land needed for the construction of several industries. The first phase of the coastal road would be between the city and the King Fahd Industrial Port. The design for the infrastructure of the residential buildings for the city, including schools, has also been completed, the director general said.
He hoped that the first stage of the Yanbu 2 would be completed in 2010 and its second phase in 2018.