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RIYADH: The Royal Commission in Ras Al-Khair Industrial City has signed an agreement to establish a SR15 billion ($3.9 billion) industrial complex on the east coast of Saudi Arabia.
The 3 million sq. m complex will provide iron sheets that are used in the manufacture of cars and ships, the Commission said on Wednesday.
The industrial complex will provide more than 1,600 direct jobs and more than 8,000 indirect jobs, the Commission said, according to the Saudi Press Agency.
The Royal Commission said the deal comes within the framework of its endeavour to promote and attract investments in line with the development of the industrial growth movement of its affiliated cities.