PHOTO
08 August 2017
A total of 816 factories and industrial plants, worth around 21.76 billion Saudi riyals ($5.8 billion) and employing a workforce of 65,816, are currently under construction in Saudi Arabia, according to a local newspaper.The metals and minerals industry topped the list with 342 factories under construction, followed by the rubber and plastics industry (128 factories), the food and beverages sector (59 factories0 and the chemical products industry (55 factories), the Al-Eqtisadiyah newspaper said, citing information from the Saudi Ministry of Energy, Industry and Mineral Resources.
The number of factories operating in the kingdom stood at 7,788 plants at the end of the first half of 2017, with a total capital of 1.094 trillion Saudi riyals and a workforce of near 1 million, the paper added.
The ministry routinely follows up with the factories under construction, aiming to reduce any challenges or obstacles manufacturers may be facing, the Undersecretary of the Industry Affairs, Saleh Al-Salmi, told the newspaper.
Saudi will launch an industrial sector stimulus package during the fourth quarter of 2017, part of the incentives to boost its non-oil economy and increase the kingdom’s focus on industries where it could have a competitive advantage, such as the mining sector, a Reuters report said in April this year.
© Zawya 2017
A total of 816 factories and industrial plants, worth around 21.76 billion Saudi riyals ($5.8 billion) and employing a workforce of 65,816, are currently under construction in Saudi Arabia, according to a local newspaper.The metals and minerals industry topped the list with 342 factories under construction, followed by the rubber and plastics industry (128 factories), the food and beverages sector (59 factories0 and the chemical products industry (55 factories), the Al-Eqtisadiyah newspaper said, citing information from the Saudi Ministry of Energy, Industry and Mineral Resources.
The number of factories operating in the kingdom stood at 7,788 plants at the end of the first half of 2017, with a total capital of 1.094 trillion Saudi riyals and a workforce of near 1 million, the paper added.
The ministry routinely follows up with the factories under construction, aiming to reduce any challenges or obstacles manufacturers may be facing, the Undersecretary of the Industry Affairs, Saleh Al-Salmi, told the newspaper.
Saudi will launch an industrial sector stimulus package during the fourth quarter of 2017, part of the incentives to boost its non-oil economy and increase the kingdom’s focus on industries where it could have a competitive advantage, such as the mining sector, a Reuters report said in April this year.
© Zawya 2017
