PHOTO
Saudi Arabia’s Ras Al-Khair Industrial City has signed an industrial land agreement with local firm Gulf Copper to develop a copper smelting and casting plant at an investment of 1.18 billion Saudi riyals ($319.30 million), the Royal Commission for Jubail and Yanbu said in an official tweet.
The project would be developed on a plot spanning more than 250,000 square metres in the industrial city. No construction timelines were given.
In January, Ahmed Hassan, CEO of Ras Al-Khair Industrial City, said that Jubail and Ras Al Khair industrial cities are contributing around 90 billion riyals ($24 billion) to the Kingdom’s Gross Domestic Product.
(Writing by Senthil Palanisamy; Editing by Anoop Menon)
