RIYADH: Affirming Saudi Arabia’s evolution into a global trade hub, total anchor investments in its four special economic zones reached SR47.2 billion ($12.6 billion) to date, it was disclosed at a forum.
Apart from the existing investments made by companies like Lucid and Seera, the Saudi Special Economic Zones Investment Forum in Riyadh on Monday also saw new investment pledges for projects in zones established in King Abdullah Economic City, Ras Al-Khair, Riyadh, and Jazan.
It was announced that Himmah Projects will invest SR2.15 billion in King Abdullah Economic City to establish an automotive and mobility export hub catering to the Middle East and Africa.
SIAC Construction also pledged to invest SR200 million in the special economic zone in King Abdullah Economic City. The company announced establishment of a specialized building materials hub to support infrastructure projects in the region.
McDermott Arabia Co. will invest SR375 million in Ras Al-Khair to develop fully integrated engineering construction solutions for the energy industry. Another investment worth SR2.14 billion will be made by Makeen Energy in Ras Al-Khair.
China-based Baosteel pledged SR15 billion to establish an integrated steel plate manufacturing facility in Ras Al-Khair.
In Jazan, aquaculture company Pure Salmon will invest SR2 billion to sustainably produce salmon locally, while Masharaq announced investments worth SR33 million to establish a food facility in the special economic zone.
China-based industrial investor Wangkang will invest SR5 billion in Jazan special economic zone to produce a range of glass products.
The Kingdom’s General Authority for Civil Aviation signed an agreement with Swiss-based Valcambi and Ajlan and Brothers to establish a precious metal refinery in the Riyadh integrated special logistics zone.
Saudi Arabia’s Communications, Space and Technology Commission signed a memorandum of understanding with Microsoft to discuss potential collaboration in cloud computing at the King Abdulaziz City for Science and Technology special zone.
The commission also signed an MoU with Oracle to explore cloud computing opportunities at the Cloud Computing SEZ located at the King Abdulaziz City for Science and Technology.