Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz launched 29 industrial and development projects worth more than $18.4 billion (SR68 billion) in Jubail today.
The new projects belonged to the Royal Commission for Jubail and Yanbu, Saudi Basic Industries Corporation (SABIC) and the private sector.
King Abdullah laid the foundation for four Royal Commission projects with a total investment of $1.9 billion (SR7.1 billion). They include the Matrafiya residential area designed to accommodate 11,000 people; a university city with the capacity to accommodate 18,000 students; the second phase of Jalmouda district project to establish 10,200 housing units; and the second phase of Jubail-II.
The SABIC projects launched today are the expansions of the National Industrial Gas Company, the Saudi Methanol Company, the Saudi Iron & Steel Co., Jubail United Petrochemical Company’s Linear Alpha Olefins plant, and National Gas Company’s expansion project.
King Abdullah also launched private sector projects involving a total investment of $13.4 billion (SR50.2 billion). They include the Saudi Polymers Company (Chevron-Philips), the expansion of Saudi Aramco Shell Refinery (Sasref) and nine other projects.
Saudi Ethylene & Polyethylene Company, Jubail Chevron Philips Company, Advanced Polypropylene Company, and Chemical Methanol Company in addition to five other projects were also launched during the King’s visit.
This is King Abdullah’s second visit to Jubail in two years. In 2006, he launched the second Jubail Industrial City (Jubail-II) and laid the foundation for 22 mega industrial and development projects in the city.