Saudi authorities study auto sector to boost growth zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
Abu Dhabi: The Royal Commission in Jubail, a city in the Eastern province on the Arabian Gulf coast of Saudi Arabia and home to the largest industrial city in the world, started developing the infrastructure required for attracting three global automakers, Mohammad Al Zahrani, Director of Industrial Investment Development Department told Al Arabiya TV.
Al Zahrani expects the first Saudi-made car to be manufactured in 2022. The move comes in coordination with South Korea’s SsangYong Motor Co. through setting up a car assembly center. Engineering designs are in advanced stages, Al Zahrani said.
The study conducted by the Royal Commission eyes to attract almost SR40 billion ($10.67 billion) direct investments to the automotive industry by 2040, Al Zahrani added, noting that this sector will contribute SR80 billion to the Saudi Gross Domestic Product (GDP) and provide 27,000 direct jobs.
RIYADH: The Royal Commission in Jubail started developing the infrastructure required for attracting three global automakers, Mohammad Al-Zahrani, Director of Industrial Investment Development Department told Al-Arabiya TV, expecting the first Saudi-made car in 2022. The move comes in coordination with South Korea’s SsangYong Motor Co. through setting up a car assembly center.