Value of Jubail, Yanbu projects reaches SR327bn

The value of the implemented and under-construction projects in Jubail and Yanbu industrial cites has reached SR327 billion, according to a report released by the Royal Commission for Jubail and Yanbu (RCJY).
The report has highlighted privileges enjoyed by the two industrial cities to make them attractive to the investors including, among others, long-term lease agreements of lands at nominal prices and provision of developed industrial zones equipped with basic infrastructure requirements.
The report, carried by the Saudi Press Agency, stressed on the training programs tailored to cope with the requirements of all projects as well as the provision of integrated communal environment and modern shopping facilities.
The number of work force in all industrial sectors in the two cities reached 167,000 by the end of the Hijri year 1433 — an increase of 70 percent compared to the figures of 1427, the report said, adding that Jubail 2 and Yanbu 2 projects will create more direct and indirect jobs for thousands of young Saudi nationals.
The RCJY has taken responsibility to provide a decent life for the residents of the two cities and, therefore, built two residential areas in each city equipped with markets, parking lots, medical facilities, and other related services, the report said.
It stressed the importance of operation and maintenance that will ensure high production efficiency, continuity of services and reduction of costs in the two cities.
The report showed that RCJY’s willingness to prepare two locations in the two cities for plastics industry and related products which will serve as industrial clusters of highly competitive edge globally concerned with the production of petrochemicals and plastic products.
The two proposed areas will create jobs estimated to hit six-fold of those jobs generated by basic petrochemical industries, the report said.
Early this month, Custodian of the Two Holy Mosques King Abdullah launched the projects in the two cities.
The projects belong to the RCJY, Saudi Aramco, Saudi Arabian Basic Industries (SABIC), and a number of private companies.
Addressing the launch ceremony of the projects, RCJY President Prince Saud bin Abdullah, said there were 600 factories in the two cities.
He said the value of domestic and foreign investments in the cities reached SR 766 billion, with foreign investment accounting for SR 269 billion or 37 percent of overall investment.