Saudi Arabia establishes 186 factories within 3 months with a capital of 1.2 billion
Saudi Arabia, Business, 9/5/1997

The Saudi Ministry of Electricity and Industry approved establishing 186 factories in the first quarter of next year with a capital of 1.2 billion US dollars. These factories will provide 9,208 job opportunities. 8 factories are to be jointly established with foreign investors.

Well informed said that the number of permissions given to chemical and plastic factories were 64. The Saudi government has been trying to develop this sector, as the raw materials are abundant in Saudi Arabia. 25 textile companies were given permission. The rest of the factories are in the other industrial sectors.

The source added that there will be about 72 factories in Riyadh, 54 in Mecca, 24 in the eastern province. The biggest two factories will be the Arab Company for Ammonia in Jubail--its establishment will cost 136 billion dollars and it will produce 40 thousand tons of ammonia a year--and Yanbu paraffin, costing 113 billion US dollars that will produce 120 thousand tons of ordinary paraffin.

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