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Saudi Arabia has issued permits for 411 industrial projects since the beginning of 2022, bringing the total manufacturing projects in the Gulf Kingdom to 10,638.
Official data published in Aliqtisadia and other Saudi newspapers showed the world’s largest oil exporter issued permits for 79 industrial projects in May, with a combined value of more than one billion Saudi riyals ($266.5 million).
The report by the Industry and Mineral Resources Ministry showed metal industries accounted for the largest part of the sector, with 2,056 factories. It was followed by rubber and chemicals with 1,346 factories and food industries with 1,268 units.
Small industries accounted for nearly 92.4 percent of the total industrial projects licensed in May while medium projects amounted to 6.3 percent and large industries to 1.3 percent, it said, adding that nearly 63 factories approved this year began production in May with total investments of around 1.3 billion riyals ($346.6 million).
(Writing by Nadim Kawach; Editing by Anoop Menon)
