SR900bn invested in 600 Jubail and Yanbu projects

The Royal Commission for Jubail and Yanbu (RCJY) has pumped more than SR900 billion into the industrial cities of Jubail and Yanbu, RCJY Chairman Prince Saud bin Abdullah bin Thunayan said.
In a statement carried by the Saudi Press Agency marking the Kingdom’s National Day, Prince Saud said the investments were directed to set up more than 600 plants to produce some 92 basic products.
"With this expansion, the number of residents of the cities of Jubail and Yanbu grew to 300,000 people," he said.
He said the number of workers in the two cities in all sectors reached 175,000, while the number of students in public schools and academic institution affiliated to the RCJY stood at 70,000 students.
The RCJY share to the gross domestic product (GDP) stands at 12 percent while its share to the industrial sector is 65 percent, or two-thirds of the total industrial sector, he said.
The volume of RCJY exports from the two industrial cities form 85 percent of the Saudi total nonoil exports, he noted.
Stemming from these achievements, the Kingdom ranked 10th globally among the biggest producing countries for petroleum products, he said.
He added that RCJY has attracted investments estimated at SR142 billion for Jubail 2 project, with a number of specialized industries in the new project reaching some 16 industries, including industrial complexes for the production of petrochemicals and its derivatives such as Saudi Aramco and Total Refining and Petrochemical Co., which is aimed to produce 400,000 barrels of refined products per day.
RCJY has also attracted investments estimated at SR11.72 billion for Yanbu Project 2 to produce titanium dioxide, reinforced iron in its different forms and solar-related industries , lubricating and motor oils, he pointed out.