Development boost for EP

Development boost for EP

2nd anniversary of King Salman’s accession to the throne

Custodian of the Two Holy Mosques King Salman being received upon arrival at King Abdulaziz Airbase in the Eastern Sector in Dhahran in this file photo. -SPA
Custodian of the Two Holy Mosques King Salman being received upon arrival at King Abdulaziz Airbase in the Eastern Sector in Dhahran in this file photo. -SPA

In November, Custodian of the Two Holy Mosques King Salman inaugurated a series of projects related to development, health and education sectors in the Eastern Province.

Among them are Ministry of Housing projects in Al-Ahsa that aim at providing 100,000 housing units in partnership with a number of Chinese real estate development companies in the framework of partnership with the private sector. Key health projects, including hospitals, were inaugurated during the royal visit.

These include the 500-bed Maternity and Children’s Hospital in Dammam, costing SR330 million, and 500-bed Al-Amal Health and Mental Health Complex, which was built at a cost of SR262 million.

The King also inaugurated three hospitals in Al-Ahsa, including the 200-bed Prince Saud Bin Jalawi Hospital built at a cost of SR127 million, the 100-bed Al-Omran Hospital built at a cost of SR112 million, and the 200-bed King Faisal General Hospital, which costs SR119 million.

Custodian of the Two Holy Mosques King Salman inaugurated 242 industrial and development projects worth SR216 billion for the Royal Commission for Jubail and Yanbu, Saudi Aramco, Saudi Arabian Basic Industries Corporation (SABIC) and the private sector in November. The King also laid the foundation stone for the Economic Center in Jubail Industrial City.

Welcoming the King, Prince Saud Bin Abdullah Bin Thunayan, Chairman of Royal Commission for Jubail and Yanbu, said the Commission’s pursuit for integration with its partners comes in the framework of its commitment to excellence.

“The Commission uses its facilities, capabilities and raw material to competitive advantages that rely on skills, innovation and modern technology making it possible to provide an attractive investment environment pushing the private sector to participate effectively and succeed in the localization of petrochemical, mining and manufacturing industries. This was confirmed by the success of SABIC as it was ranked 4th global petrochemical industry,” he said.

Welcoming the King, Minister of Energy, Industry and Mineral Resources Khalid Al-Falih said: “Today our dear country under your wise leadership is anticipating tomorrow’s promising features in the framework of the ambitious Vision 2030.”
He said the “Plus Chemo” project, which is a world-class complex for chemical and manufacturing industries, is expected to attract quality investments estimated at SR20 billion and generate about 20,000 new jobs.

Neil A. Chapman, President of ExxonMobil Chemical Company, said that his company is proud of being a reliable business partner in the Kingdom for more than 85 years and one of the largest foreign investors in the Kingdom.

“Our decades-long relationship with Saudi Aramco, SABIC, and Royal Commission for Jubail and Yanbu represents the cornerstone of our success here in the Kingdom, where our common projects in Al-Jubail Petrochemical Company (Kemya), Saudi Aramco Mobil Refinery (SAMREF) and Yanbu Petrochemical Company (Yanpet) achieved impressive results in providing opportunities for training and development at a global level in addition to offering career opportunities for thousands of young Saudis,” he said.

He said the Kemya company successfully achieved the Saudi rubber project with investments worth SR13 billion. It will produce specialized rubber products, enhancing the diversification of the Kingdom’s economy in line with the its Vision 2030.

Executive President of Total Company Patrick Bojan said the joint venture of the Satorp Complex with Saudi Aramco in Jubail includes a refinery and a petrochemical facility with investments worth $13 billion.

President and Chief Executive Officer and Chairman of Dow Chemical Company Andrew N. Liveris said, “We have been dreaming of this day and we are working to achieve it for nearly a decade.”

He said that 26 manufacturing units affiliated to Sadarah will have a combined production capacity of more than 3 million tons of plastics with a high value, performance and specialized chemical products per year.