Oil giant Saudi Arabia issued permits for 115 industrial projects in August at a total cost of around 4.1 billion Saudi riyals ($1.1 billion) as part of economic diversification plans, according to the Industry and Mineral Resources Ministry. 

The number of permits in August was nearly 20 percent higher than those issued in the previous months and it brought to 646 the total number of industrial permits granted by the Ministry since the start of 2022, it said in a report. 

By the end of August, the total number of industrial units in the Gulf Kingdom reached 10,707 with a combined investments of 1.37 trillion riyals ($365 billion), the report showed. 

Permits issued last month covered chemicals, metals, machinery, furniture, home appliances and other light-medium products, the report said, adding that nearly 85 percent of the projects are owned by Saudis and the rest by foreigners or as joint ventures. 

(Writing by Nadim Kawach; Editing by Anoop Menon)