Every government riyal spent on Jubail and Yanbu attracts eight from private sector

Every government riyal spent on Jubail and Yanbu attracts eight from private sector
Industrial investments reached SR934 billion with urban spending topping SR37 billion. (Shutterstock)
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Updated 26 April 2021

Every government riyal spent on Jubail and Yanbu attracts eight from private sector

Every government riyal spent on Jubail and Yanbu attracts eight from private sector
  • The RCJY has so far attracted investment of about SR1.2 trillion ($319.9 billion) into the vast industrial cities

DUBAI: The Saudi Ministry of Industry and Mineral Resources said that every riyal the government spends on the Royal Commission for Jubail and Yanbu (RCJY) attracts eight from the private sector.
The RCJY has so far attracted investment of about SR1.2 trillion ($319.9 billion) into the vast industrial cities at the heart of the Kingdom's petrochemical power, Al Arabiya reported.
Industrial investments reached SR934 billion with urban spending topping SR37 billion, it said.
Meanwhile commercial investments totaled SR17 billion.
The Ministry revealed 39 factories began production last month, with a growth rate of 26 percent compared to the previous month.