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Royal Commission for Jubail and Yanbu Signs 5 Investment Agreements
Agreements come on sideline of mining conference and worth over SR43 Billion
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Riyadh –
Riyadh – 
:
The Royal Commission for Jubail and Yanbu signed five agreements worth more than SR43 billion to establish projects in Ras Al-Khair Industrial and Yanbu Industrial Cities, on the sidelines of the International Mining Conference held at the King Abdulaziz International Conference Center in Riyadh.
The agreements included the signing of the Royal Commission for Yanbu two investment agreements, with the “Red Sea Aluminum Industrial Company” to lease industrial land in Yanbu Industrial City, to establish a factory project for smelting and rolling aluminum and its alloys.
The project, which will be established on an area amounting to 703.8 hectares with an investment volume of SR38.168 billion, is expected to provide 5,517 job opportunities to contribute to mining infrastructure projects.
The second agreement was signed with the “EV Metals” company (EVM) and aims to lease industrial land to establish a complex for the production of high-purity chemicals required for active materials in the cathode that can be recharged for lithium-ion batteries for electric vehicles and renewable energy storage. The project area is 127 hectares in size with an investment worth SR3.375 billion.
Meanwhile, the Royal Commission in Ras Al-Khair Industrial City signed three investment agreements, with the “Saudi Holding Company for Conversion Industries”. An agreement was also signed with the “Tamouh Development and Investment Company”.
The third agreement was signed with the Petroleum Protection Services and Construction Company to allocate 10,000 square meters to establish and operate a ready-mixed concrete factory for marine uses, which will support the ports and marine industries sector with an investment of SR5 million and will provide 75 job opportunities.–SPA
