Eng. Khalid bin Abdulaziz Al-Faleh, Minister of Energy, Industry and Mineral Resources, announced here today, during the second edition of the Future Investment Initiative, taking place under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the initial launching of the national industry development and logistics services' program. The program is one of the most important programs to achieve the vision of the Kingdom, as it implements more than 300 initiatives and develops 11 industries, including the automotive industry, military, medical, aquaculture and fish industries, all aiming to raise the Kingdom's exports to 50% of the non-oil exports, he said. It aims to transform the Kingdom into a leading industrial power and a global logistics platform, by focusing on four vital sectors, namely, industry, mining, energy and logistics, to contribute to GDP by SR2 trillion and provide one million and 6000 jobs, in addition to attracting investments estimated at SR 1.6 trillion, by 2030. A number of mega agreements signed by the Ministry of Energy, Industry and Mineral Resources, including an agreement to invest in the construction of a petrochemical complex in Jazan, have been signed with the Chinese company Pan Asia, he added. The project aims to produce 1.25 million tons of PTA and 500,000 tons of polyethylene PET, as the project will export 60-70% of its production, which is a positive contribution to the GDP, he affirmed. A memorandum of understanding (MoU) was signed for the construction of a smelter for copper, zinc and lead in Ras Al-Khair, in cooperation with Trafigura Singapore and the Modern Mining Company, he pointed out, saying that the project aims to produce 400,000 tons of copper, 200,000 tons of zinc and 55,000 tons of lead and other minerals, in addition to pure gold and silver, he explained. This project will be the first copper smelter in the GCC member states, and the project will support the growing demand for these minerals, he emphasized. On the other hand, in terms of logistics projects, the Public Transport Authority (PTA) signed a memorandum of understanding (MoU) with China's CCECC for the implementation of the coastal bridge linking the Western coast of Kingdom to the Eastern coast, through the existing railway linking Riyadh to Dammam, where the investment is expected to exceed $10.6 billion, in addition to an agreement to manufacture freight cars for railways, in the Kingdom, between the Saudi Railway Company (SAR) and the signing of another agreement by the Public Investment Fund, the General Corporation of Railways and the Spanish Alliance, on one hand, he explained, while, on the other hand, the second stage of the development of the Al-Haramain fast-track project, will start, he remarked. These agreements seek to enable the Kingdom to become a global logistics center by strengthening the public-private partnership, in addition to increasing the size of the logistics sector, in Saudi Arabia, to more than SR 70 billion, in 2020, he drew attention. In terms of manufacturing, the ministry signed a framework agreement to invest in two manufacturing plants in the industrial city of Jubail, with Flexigen to develop investment opportunities in the rubber industry; and to set up a chemical plant with Halliburton, which will be built, at the Plaskim complex, in Jubail, he commented.
