Jubail, Ras Al Khair industrial cities contribute $24bn to the Kingdom’s GDP

Short Url
Updated 16 January 2022
Follow

Jubail, Ras Al Khair industrial cities contribute $24bn to the Kingdom’s GDP

Jubail, Ras Al Khair industrial cities contribute $24bn to the Kingdom’s GDP
  • Ras Al Khair has created 30,000 jobs since its inception and it's expected to add another 50,000 jobs over the next few years

RIYADH: Jubail and Ras Al Khair industrial cities are both contributing around SR90 billion ($24 billion) to Saudi Arabia’s GDP, CEO of Ras Al Khair said in an interview with Arab News.

The amount accounts for 4.5 percent of the non-oil GDP, Ahmed Hassan added. 

Ras Al Khair has created 30,000 jobs since its inception and it's expected to add another 50,000 jobs over the next few years, with the completion of new projects including the King Salman Global Maritime Complex, which might start initial operations by the end of this year or early next.

Established in 2009, Ras Al Khair industrial city has been built based on an economic plan, to target five main primary industries, namely aluminum, phosphate, zinc, copper, and steel. 

The total size of investment in the industrial city amounts to SR150 billion, with the private sector having the lion share - a ratio of 14 riyals for every riyal invested by the government, or  1:14, Hassan said. 

Speaking of green hydrogen, Hassan said that it is part of the city’s master plan which will be activated in action upon the announcement of the Kingdom’s national hydrogen strategy.