Saudi Arabia attracted investments of nearly 95 billion Saudi riyals ($25 billion) in metal manufacturing in its industrial cities in 2023, official figures have shown.

The funds were invested in 1,629 metal industrial facilities, an increase of around 4.3 percent over the previous year, The Saudi Authority for Industrial Cities and Technology Zones (Modon) said in a report at an international mining conference in Riyadh.

The Western Red Sea port of Jeddah had the lion’s share of these investments, which covered 482 industrial units, following by the Eastern port of Dammam with 391 units and the capital Riyadh with 199 plants, according to the report.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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