Saudi Aramco's energy industrial city investment seen at SAR16.5bn, Maritime complex at SAR21.8bn
Saudi Aramco sees investment in a new energy industrial city in Saudi Arabia to be SAR16.5bn (USD4.4bn), according to Abdulaziz al-Abdulkarim, Vice President for Procurement and Supply Chain Management. The city is located close to Abqaiq in the east and will develop energy-related industries. Investment in the huge ship repair and shipbuilding complex Ras al-Khair would be SAR21.8bn, he added. Saudi officials have said the King Salman International Complex for Maritime Industries and Services, being developed by Saudi Aramco and foreign partners, would cost more than USD5bn.
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