Saudi King launches $14.4bn of industrial, welfare projects

Saudi Arabia’s King on Sunday launched two important industrial and welfare projects worth SR54bn during the visit to the country’s Eastern Province.

“King Abdullah will attend a ceremony organized by the Royal Commission, SABIC, Marafiq and private companies for the launch of a number of projects in Jubail Industrial City,” said Prince Saud bin Abdullah bin Thunayan, chairman of the Royal Commission.

The new projects include a water and electricity plant that will be established in Marafiq at a cost of SR12bn and a second industrial city in Jubail, according to Saudi daily Arab News.

The Jubail project will cost SR232bn and will accommodate 20 huge industrial complexes that will produce 70 million metric tons of petrochemicals per year.

Eastern Province Governor, Prince Mohammed bin Fahd welcomed King Abdullah’s visit, saying it reflected the king’s desire to have a first-hand knowledge of citizens’ requirements and to follow up on the progress of development projects.

“The Eastern Province has received special care from the Saudi leadership through the implementation of a series of giant projects,” he said.

 “Citizens in the Eastern Province have felt the pace of progress achieved by the region in various sectors during a short span of time,” Prince Fahd added.

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