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FINANCIAL NEWS
Saudi KAEC signs contracts with three investors
10 Jul 2014
(MENAFN) King Abdullah Economic City (KAEC) and three manufacturing companies to develop the city”s Industrial Valley to take advantage of the promising opportunities offered, according to Arab News.
The three companies are Paint Innovation Factory, a Saudi-German joint venture for the production of high quality paints, Neem Arabia for Wood Construction, and the Jeddah Aluminum Company Ltd.
Paint Innovation will be responsible for establishing its plant in the first phase of the industry valley, Neem Arabia will construct a facility for the production of decorative woodwork, and Jeddah Aluminum will build a factory for the production of windows and doors for residential complexes.
Rayan Qutub, COO of the Industrial Valley (IV) in KAEC, said: “These three new factories have chosen to invest in KAEC because of the IV”s highly developed infrastructure, world-class service facilities and the strategic advantages of its location.”
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