In an interview with Al-Arabiya, Faisal Al-Hajri, Director of the Business Development Department at the Royal Commission in Ras Al-Khair, said that the volume of investments in the city amounts to 170 billion riyals, distributed between local and foreign investments.
Al-Hajri explained that the value of government investments in the “Ras Al-Khair” industrial city is estimated at 15 billion riyals, and 155 billion riyals for the private sector.
He continued, “These investments include many industries, including what is in operation, such as phosphate and aluminum minerals, and some of which are currently under study and design, such as steel sheets.”
He added that the share of “Ras Al-Khair” projects within the “Shreek” program amounts to about 82 billion riyals, for about 4 companies distributed over the steel industry, ship engines and phosphates.
It is expected that these new investments will contribute to the creation of about 2,600 new jobs.
He pointed out that the projects contribute to the production of raw materials from aluminum and phosphate ores, which contribute to many industries such as the manufacture of cars, engines and fertilizers.
And Al-Hajri indicated that the materials produced from Ras Al-Khair feed about one billion people.
It is noteworthy that the mineral industries projects that have begun to be implemented in Ras Al-Khair Industrial City in Saudi Arabia, are estimated to have investments worth up to 82 billion riyals, making it one of the largest cities for mining industries in the world.
Among these projects, which are being implemented within the framework of the program to enhance partnership with the private sector, “Sharik”, the largest of which is the casting and roads project, the Maaden Phosphate Company 3 project, and the heavy iron sheet project, with a total investment value of 38 billion riyals.
It is expected to contribute more than 100 billion riyals to the Saudi domestic product, and to provide more than 41,000 job opportunities.
The “Shreek” program announced the first package of major corporate projects in the Kingdom, at a value of 192 billion riyals, to include a number of strategic and vital sectors with the aim of contributing to enhancing the Kingdom’s economic growth.
The package was distributed among 12 projects for 8 major companies, including 5 projects for “Aramco” with several international companies, including Total, Google and Hyundai, within the program, with a budget of 62 billion riyals. As well as projects for “Ma’aden”, “Advanced”, “STC”, “Zain”, “Bahri”, “Advanced” and “SABIC”.
For his part, Abdul Aziz Al-Arifi, CEO of the “Shreek” program, said that the share of companies in the total package amounts to 120 billion riyals, and the first package will have a positive impact on the local economy, supporting value chains, enabling investments and localizing new industries, and raising exports and local content.
The Council of Ministers had agreed to convert the “Partnership” program into a center, under the name of the Center for the Enhancement of Partnership Program with the Private Sector, and to approve the organizational arrangements for the center.
The program aims to develop local private sector investments to reach 5 trillion riyals by 2030, and also supports the provision of more than 100,000 job opportunities and the promotion of local content, in addition to helping the private sector to contribute 65% to the gross domestic product by 2030, and adding more It will reach 2 trillion riyals to the gross domestic product by 2025.
The program has a positive and comprehensive impact on the Saudi economy and contributes to raising the Kingdom’s GDP ranking to the 15th rank in the world, as a translation of the goals of Vision 2030.
