King Salman to launch projects worth $4.3bn in Saudi's Qassim region

The projects were announced during the monarch's unprecedented domestic tour of the kingdom
King Salman to launch projects worth $4.3bn in Saudi's Qassim region
Coinciding with his unprecedented domestic tour of Saudi Arabia, King Salman will launch over 600 projects worth over $4.3 billion (SR16bn) on Wednesday, the second day of his visit.
By Lubna Hamdan
Wed 07 Nov 2018 10:43 AM

Coinciding with his unprecedented domestic tour of Saudi Arabia, King Salman will launch over 600 projects worth over $4.3 billion (SR16bn) on Wednesday, the second day of his visit.

While in the central province of Qassim, the 82-year-old monarch said 402 projects worth $3.2bn (SR12.15bn) will cover 12 sectors including education, housing, road, environment, water, electricity and public services, while another 199 projects costing $1.1bn (SR4.2bn) will see their foundations laid today.

The king was joined by Crown Prince Muhammad Bin Salman, deputy premier and minister of defence.

The visit also saw him order the release of bankrupt Saudi prisoners whose financial obligations do not exceed $266,600 (SR1 million).

Last month, King Salman ordered the resumption of annual bonus payments to all government workers from the beginning of next year. The bonuses had been suspended under austerity measures in 2016 amid low oil prices.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.