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Contracts and memorandum of agreement signed for SAR 418bn projects in Jubail and Ras Al-Khair

A number of new developments in Jubail and Ras Al-Khair have moved a step forward this month as the Chairman of the Royal Commission for Jubail and Yanbu (RCJU) Prince Saud bin Abdullah bin Thunayan signed various contracts and a memorandum of agreement worth a total of SAR 418bn (£70bn).

365 projects were involved in this agreement including a SAR75bn (£12bn) petrochemical complex with 26 factories and an 85km railway network expected to be completed in 30 months.

Prince Saud commented: “What we are witnessing today is a big leap in the field of industrial expansion and the fruits of the generous support of the wise leadership of Royal Commission in the development of Jubail 2, Ras Al-Khair which has increased demand of investors proven by numerous land acquisition request to set up their industrial plants and manufacturing industries.”

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