RIYADH, 21 April — The industrial city in Riyadh is gearing to welcome 71 foreign investment projects licensed by the General Investment Authority since its inception last April.
The new projects with a total capitalization of SR13 billion include factories for manufacturing metal sliding doors, automobile spare parts, gas turbine sprayers and machinery for desalination and power generation projects.
Abdul Rahman Al-Jeraisy, president of the Riyadh Chamber of Commerce and Industry and president of the board of directors of the industrial city, said the industrial city management had prepared plans to welcome the new projects. “The city is ready with the infrastructure and utilities to accommodate any type of industry,” he said.
Saudi businessmen are doing their best to create a new industrial climate in the country to encourage more foreign investment, Al-Jeraisy added.
