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Saudi Arabia issued permits for new non-oil industrial projects worth around 7.17 billion Saudi riyals ($1.9 billion) in November, according to official data.
The 82 permits for new projects brought the total number of industrial investments in the world’s largest oil exporter to 10,742 projects capitalised at SAR 1.419 trillion ($378 billion), the figures by the Industry and Mineral Resources Ministry showed.
Nearly 85 percent of the licensed projects in November were for light industries while the rest covered medium products, the report showed.
The industries included mainly chemicals, paper, building materials, machinery, foodstuffs, metals, ready-made clothes and other products.
About 92 percent of the total industrial projects in the Gulf Kingdom are owned by Saudis while rest are in the form of joint ventures and foreigner ownership.
(Writing by Nadim Kawach; Editing by Anoop Menon)
