Crown Prince Abdullah Bin Abdul-Aziz, the Deputy Premier and Commander of the National Guard will arrive here on Saturday to inaugurate several mega projects at the Jubail Industrial City and lay the foundation stone of the Jubail Industrial City II. According to the Royal Commission for Jubail, these mega projects include those of Power and Water Utility Company for Jubail and Yanbu (Marafiq) and several affiliates of Saudi Basic Industries Corporation (SABIC). Total investment in these projects is estimated at more than SR224 billion most of which will be generated by the private sector and foreign investors, according to a report published today by Arab News. Businessmen and industry experts say that the crown prince's visit symbolizes the success of industrial revolution in the country which began in 1975 with the establishment of the Royal Commission. Attention is focused mainly on the inauguration of the Marafiq projects and Jubail Industrial City II. Marafiq began its operation nearly two years ago on Jan. 1, 2003. Marafiq's expansion plans in Jubail include the setting up of a dual-purpose Independent Water and Power Plant (IWPP). The first phase of the project, estimated to cost SR8 billion and participated by international investors, will comprise a 2,400-megawatt power plant and a desalination plant with a capacity of 300,000 cubic feet water per day. Marafiq sources expect both the plants to go on stream by the fourth quarter of 2007. --MORE 1127 Local Time 0827 GMT
