Crown Prince Sultan, Deputy Premier and Minister of Defense and Aviation and Inspector General, visited the King Abdullah Economic City (KAEC) Tuesday and praised the King's vision to attract international investment with the construction of the economic cities. He appreciated the investment from both Saudi and non-Saudi investors, especially in such projects that take a while to make profits. He urged all government sectors to cooperate with the Economic Cities Authority (ECA) so that the cities can compete internationally. The Prince inspected the completed sites and watched a presentation showing other recent projects. Fahad Al-Rasheed, Executive Director of KAEC, said that most infrastructure projects have been completed in many parts of the city and 50km of road has been asphalted. He said that industrial properties in the first phase have been handed over to the investor. All support services have been provided, including administrative buildings, labor housing and the first mosque in the city. He said the first business has been opened. The second phase of the city is going to start soon. “We have signed a strategic partnership agreement with Saudi Bin Laden Company to build the seaport of KAEC. The largest seaport excavator in the world has arrived,” he said.
