JEDDAH: The Saudi Arabian General Investment Authority (SAGIA) said that the number of American facilities in the Kingdom increased in December 2017 to 462, with a total capital exceeding SR56.7 billion ($15.1 billion), according to a report published by Al-Eqtisadiah newspaper on Dec. 7.
The report quoted a SAGIA statement of Dec. 6 made during a visit by a US delegation representing major American companies in Riyadh. The SAGIA statement noted that most of the American investments are in the industrial sector, where the investment reached a total of $11.8 billion, making about 78 percent of total American investments in the Kingdom.
Moreover, SAGIA added that Saudi Yanbu Petrochemical Company
) has the biggest share of American investments, and the total funds of this company reached $5.2 billion. The other company, which also received a big share of investments, is Saudi Aramco Mobil Refinery Company Ltd.
), with total funds of $2.5 billion. Both YANPET and SAMREF operate in the petrochemical field.
SAGIA’s statement added that 14 licenses were issued in 2017, with a total fund of $101.7 million. Some of the main licenses offered include the global offshore contract driller RAWAN with a total fund of $50 million, and the health care company TADAWI with a total fund of $26 million. One of the most important cooperative projects with the US, which was licensed in 2017, is the Saudi-American Early Intervention center, which offers services to people with special needs.
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