JEDDAH, 24 December 2006 — The aluminum complex under construction at Jizan Economic City (JEC) - the fourth economic city to be promoted by the Saudi Arabian General Investment Authority (SAGIA) — expects to create some 12,000 new jobs. One of JEC’s anchor investments, the aluminum complex is the largest mineral processing facility to be built in JEC’s industrial zone and led by Saudi-based Western Way for Industrial Development Co (WWIDC).
The plant, when completed, targets production of 1.4 million tons of alumina and 660,000-700,000 ton aluminum per annum. All the alumina will be made from bauxite imported from Greece. Total investment in the complex as well as in the associated plants required to supply adequate power, is estimated at $4 billion.
“We anticipate the creation of about 12,000 direct and indirect job opportunities,” stated Dr. Ruwaid Akkad, a member of WWIDC’s board of managers.
“This strategic initiative will positively affect the lives of the people in Jizan and southern part of the Kingdom.”
“The complex will rank among the most cost-effective aluminum production facilities in the world, and will set a benchmark in the Kingdom as one of the first, large scale, non-oil related projects to be implemented in the country,” WWIDC Chairman Dr. Abdullah Basodan told Arab News yesterday.
“This project will generate further investments in the key Saudi minerals sector, since production in the GCC will witness an increase,” he added. According to WWIDC, the availability of aluminum and other primary metals will help the Kingdom benefit from the creation of downstream industries and major employment opportunities.
The refining and smelting of aluminum will employ the latest technology. A Chinese-led international consortium of technology and equipment suppliers will provide WWIDC and the Kingdom with a quality project at a “competitive price.”
The project will also include investment from other large Chinese and international organizations including local investors. In the beginning of 2007, WWIDC will officially announce the registered name of the complex, as well as the new investors participating in the project. WWIDC’s mission is to develop the Kingdom’s mineral resources sector and encourage international joint ventures. The company is one of the main leaders and developers of the aluminum smelter, he added.
JEC is being developed by an international consortium, which includes Saudi Binladin Group (SBG) and MMC Corporation Berhad of Malaysia. Custodian of the Two Holy Mosques King Abdullah laid the foundation stone of the JEC and its aluminum complex on Nov. 4.
