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FINANCIAL NEWS
Investments worth USD1.3 billion in Saudi Ras Al-Khair
27 Mar 2013
(MENAFN) Saudi Royal Commission President Prince Saud bin Abdullah bin Thunayan stated that investments in the new industrial city of Ras Al-Khair hit a total of USD1.3 billion and revealed plans to implement other industrial projects in the city, reported Arab News.
He has signed three contracts worth USD257.7 million, of which two were inked with Babtain Contracting Company and Saudi Services for Electro Mechanic Works for setting up two 1500 megawatts electricity power plants in Ras Al-Khair and design energy and communication systems for Jubail-11, with the project slated for completion within 38 months.
The third agreement, which will take 5 years to be implemented, was granted to Ali Khudair Al-Harbi and Ahmed Omar Radi Engineering Consultancy and its associates Engineering International Ltd., and comprises designing and engineering works for electricity and communication facilities for King Fahd Industrial Port and Jubail Commercial Port, with the aim to provide energy and communications systems for Jubail-II and its residential zones.
It’s worth noting that Prince Saud emphasized the role of the twin industrial cities of Jubail and Yanbu as well as other industrial cities and projects in boosting the Kingdom’s economy and improving the quality of life of Saudi people.
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