JEDDAH: The deputy minister of industry of mineral resources conducted a tour of factories in Madinah region, as part of the ministry’s efforts to investigate the challenges and opportunities within the area’s industrial sector.
Deputy Minister Osama bin Abdul Aziz Al-Zamil on Thursday inspected a number of industrial facilities in Madinah and Yanbu, where he met with investors to discuss potential opportunities.
The Madinah region ranks fifth in the Kingdom in terms of the number of factories, with 312 in total. The region also ranks fourth in terms of its investment share worth, which is valued at SR109.9 billion ($29.3 billion).
Madinah is home to 61 percent of the region’s factories; Yanbu is in second place with 35 percent, and Al-Ula in third place with 1 percent.
In terms of the current levels of investment so far, chemical activity accounts for the bulk, with 56 percent, oil and coke representing 16 percent, non-metallic minerals activity 15 percent, and other activities constituting about 13 percent of the total capital invested in the region.
Al-Zamil reviewed the services provided by the Saudi Authority for Industrial Cities and Technology Zones (MODON) where he held discussions with officials, industrialists and workers from the governorate.
During his inspection tour in Madinah, Al-Zamil visited a number of factories, including Itqan Food Industries, the House of Granite Factory, and the National Factory for Elevators.
As part of the visit, Al-Zamil also had a meeting with officials from the Madinah Chamber of Commerce and Industry, where he met with the chairman of the chamber’s industrial committee.
The visit included a visit to the Yanbu National Petrochemical Company (Yansab), which came during meetings held with officials from the Yanbu Chamber of Commerce and Industry and the Royal Commission for Jubail and Yanbu (RCJY)
The tour is part of the ministry’s initiatives to develop the sector and improve its investment environment, in order to achieve the goals set out as part of the Kingdom’s Vision 2030.