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FINANCIAL NEWS
Saudi starts establishment of Dammam Industrial City 3
05 Apr 2012
(MENAFN) Saudi Commerce and Industry Minister, Tawfiq Al-Rabiah, said that the ministry started the construction of Dammam Industrial City 3 at a cost of USD159.97 million, reported Arab News.
Al-Rabiah added that the city, which would cover an area of 48 million square meters, would be forecasted to attract nearly 2,000 industries with a capital investment of USD7.99 billion.
On the other hand, Saudi Industrial Property Authority’s (MODON) Director General, Saleh Al-Rasheed, said that the number of industrial cities in the Kingdom reached 28, whereas the number of industries doubled from 1,600 to 3,000.
It is worth noting that by 2015, the total area of industrial cities in the Kingdom will reach 160 million square meters.
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