2000 News Story

SAGIA issues licenses for industrial projects

The Saudi Arabian General Investment Authority (SAGIA) has recently issued 14 licenses for new industrial projects with a total investment of SR 90 million [U.S. $ 24 million]. The projects include plants for the manufacture of automobile air-conditioning units, factories for computer software, and the drilling of water wells. Since its establishment, SAGIA has issued 23 licenses for expansion of existing projects, with a total capital of SR 581.59 million [U.S. $ 155.09 million], in addition to 58 new investment licenses with a total capital of SR 4.1 billion [U.S. $ 1.09 billion].