The Royal Commission of Jubail has begun developing the infrastructure needed to attract three global carmakers.
The Royal Commission in Jubail started to develop the infrastructure required for attracting automakers globally, Mohammad Al-Zahrani told, expecting the first Saudi-developed car by 2022.
This move will be carried out in collaboration with SsangYong Motor Co. of South Korea through the establishment of the Automobile Assembly Center. Engineering design is in the process of being advanced, Al-Zahrani said.
The study conducted by the Royal Commission looks to attract almost SR40 billion (US$10.67 billion) of direct investment into the automobile industry by 2040, Al-Zahrani added, noting that this sector will contribute SR80 billion to Saudi GDP and creates 27,000 jobs.
He concluded that the Kingdom’s automotive complex is part of a strategic industrial plan, as the Jubail and Ras Al-Khair industrial cities provide more than 90% of the raw materials used in the direct manufacture of automobiles.
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