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Custodian of the Two Holy Mosques Inaugurates USD34 Billion Projects at Ras Al-Khair | ASHARQ AL-AWSAT English Archive 2005 -2017
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Saudi King Salman (C) attends the inauguration ceremony of several energy projects in Ras Al Khair, Saudi Arabia, November 29, 2016. Saudi Press Agency/Handout via REUTERS

Ras Al-Khair- Custodian of the Two Holy Mosques King Salman inaugurated a number of infrastructure, development and mining projects worth SAR130 billion (USD34.7 billion) at Ras Al-Khair.

King Salman also inaugurated projects of Royal Commission for Jubail and Yanbu. The commission is working on attracting foreign and local investments as well as promoting itself.

The Minister of Energy, Industry and Mineral Resources, Engineer Khalid Al-Faleh said in a speech delivered during the inauguration of Ras Al-Khair projects, “We are celebrating today not only a unique mining industry system but also a true implementing of the genuine pursuit to diversify income sources and the national economy through investing in all available resources and pushing strategic industries.”

Faleh added that the government has exerted efforts to support and develop the mining sector according to new and unique competency indicators through huge investments worth SAR130 billion.

He also added that the achievements of Ras Al-Khair Industrial City is a typical example of what the country can do in the field of establishing and operating comprehensive systems of industrial and basic structure.

During few years, the Saudi government succeeded in establishing the mining sector to become a pillar sector in the Saudi industry at Ras Al-Khair.

This sector is a boost to the national economy, its structure and industries. Core industries at Ras Al-Khair are the Phosphate and aluminum industries; these projects will provide 12,000 job opportunities and will represent a platform to launch the promising purposes that go along with the Saudi Vision 2030.