JEDDAH: Investments in the Kingdom’s industrial sector have reached more than SR500 billion, bringing the total number of operating industries in the country to 4,952, according to a statistical report carried by the Saudi Press Agency on Saturday.
“The total capital investment in the industrial sector reached SR509 billion by the third quarter of this Hijrah year,” said the report, adding that the number of workers in the sector reached more than 617,000 during the same period.
Custodian of the Two Holy Mosques King Abdullah has visited the Jubail Industrial City three times since he ascended the throne in 2005. This reflects the importance given by the government to the industrial sector, the report pointed out.
It said there are 42 industrial complexes in the twin industrial cities of Jubail and Yanbu, consisting about 400 downstream and upstream industries. Two new industrial cities have been established in Ras Al-Khair and Rabigh, the report pointed out.
The report also indicated that the Saudi Industrial Development Fund gave 3,226 loans worth SR87.5 billion until the end of 2010 to establish 2,284 industries in different parts of the country.
Petrochemicals received about 40.8 percent of the total industrial investment or SR208 billion while chemical industries received SR79 billion, mineral industries SR54 billion, and other basic industries SR43.8 billion. There are about 775 food industries in the Kingdom with a total investment value of SR42 billion.
The report also pointed out that the Kingdom’s non-oil industries grew by 5 percent in 2010 while its nonoil exports in 2010 reached SR124 billion, up by 14 percent compared to 2009.
There are 2,811 industries licensed under the foreign investment scheme with a total investment of SR444 billion, the report said, adding that they employ more than 242,000 workers.