Middle-east Arab News Opinion | Asharq Al-awsat

SR 256 Billion Invested in Saudi Arabia”s 3,657 Factories | ASHARQ AL-AWSAT English Archive 2005 -2017
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Riyadh- As many as 3, 657 productive factories in the Kingdom of Saudi Arabia stand as a witness for the remarkable industrial development accomplished in the country.

Up to the end of the first quarter of 1425 AH, an amount of SR 256 billion was invested in these factories, while the number of workers at these factories jumped to 346,000.

These industries include chemical industries, plastic products, pottery, building materials, textile, ready-made garments, metal manufactured products, and foodstuff industries.

The Kingdom”s non-oil industrial exports to 120 countries amounted to about SR 50 billion by the end of 1414 AH.

According to the available statistics, the contribution of the down stream industries (without oil refinery) amounted to ten percent of the Gross National Product (GNP) by the end of 1423 AH, while the rate of the industrial development growth reached 23 percent.

The Saudi Arabian Basic Industries Corporation (SABIC) was established in 1396 AH to match the strategic plans for the development plans. Its industrial complexes are provided with the most sophisticated technology for the production of metals, fertilizers and petrochemicals.

Currently, Sabic”s marketing activity covers more than 90 countries through 18 industrial complexes with a productive capacity of more than 42.3 million tons in 2003.

Revenues of SABIC increased to about SR 47 billion with a net profit of SR 6.696 billion.

In the same year, the number of employees of SABIC amounted to about 16,000; the Saudis constituted more than 78 percent of the total employees.

Saudi Arabia has 14 industrial cities with an area of more than 92 million square meters.

Up to the end of the first quarter of 1425 AH, more than SR 2100 million were spent on the two gigantic industrial cities of the Royal Commission for Jubail and Yanbu.

The state”s general budget for the fiscal year 1425/1416 AH included new projects for these two cities for the development of their infrastructure.

The various consecutive development plans have reiterated the importance of industrialization in its capacity as the ideal alternative for the acceleration of the development goals which aim at diversification of the productive base and lessening dependence on revenues of crude oil, enabling the private sector to positively contribute to the development processes, making job opportunities available, and laying strong technological foundation.