Saudi Arabia’s Jizan Industrial zone intends to award projects worth around 9 billion Saudi riyals ($2.4 billion) as part of a 5-year development plan, its chief has said.
The projects cover 13 sectors, including industries, infrastructure, housing, power and public utilities in the zone, Hussein Fadli told the Saudi daily Al-Madina on Sunday.
He said the zone would also award a number of contracts involving consultancy, engineering and environmental studies.
“These projects are part of a 5-year development plan…there will be more projects within the zone’s long-term development plan stretching until 2040,” he said.
Fadli told the paper that the Red Sea Jizan Zone in Southwestern Saudi Arabia has attracted investment of nearly 89 billion riyals ($23.7 billion) and aims to receive a total of 20 billion ($5.3 billion) in the next few years.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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