Yesterday, Eng. Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources, announced the initial launch of the "National Industrial Development and Logistics Program."
He pointed out that the program is one of the most important programs to achieve the "vision of the Kingdom," through implementing more than 300 initiatives, and working on the development of 11 industries that are including the automotive, military, medical, aquaculture and fish industries.
All of these aimed at raising the Kingdom's exports to 50 per cent, including non-oil exports.
The program's strategy is to transform the Kingdom into a leading industrial power and a global logistics platform by focusing on four vital sectors (Industry, mining, energy, and logistics).
The program aims to contribute to the GDP in trillion and 200 billion Saudi riyals through providing 600 million jobs and attracting investments of SR trillion and SR 600 billion by 2030.
The events of the Future Investment Initiative witnessed the signing of a number of huge agreements that were signed by the Ministry of Energy, Industry and Mineral Resources, including an agreement to invest in the construction of a petrochemical complex in Jazan, with Pan Asia China.
This project aims to produce 1.25 million tons of PTA " purified terephthalic acid " and 500 thousand tons of PET "polyethylene."
The project will export 60-70 per cent of its production, a positive contribution to GDP.
A memorandum of understanding was also signed during the events to establish a smelter for copper, zinc and lead in Ras Al-Khair, in cooperation with Trafigura Singapore and A Modern Mining Company.
The project aims to produce 400 thousand tons of copper, 200 thousand tons of zinc and 55 thousand tons of lead, and other pure minerals such as gold and silver.
The project will be the first copper smelter in the GCC countries, as it would contribute to supporting the increasing demand for these major minerals.
The Initiative witnessed the signing of a memorandum of understanding for joint investment in the Kingdom and China, with the Chinese company Norinco.
On the other hand, the Public Transport Authority has signed a memorandum of understanding with China's CCECC to implement the land bridge project linking the coasts of the western kingdom with its eastern coasts by passing the Riyadh, where the value of investment in this huge project is expected to exceed $ 10.6 billion.
In addition, an agreement to manufacture freight cars for railways in the Kingdom between Saudi Railways (SAR) and Greenbrier was signed too, as well as the signing of another agreement by the Public Investment Fund and the General Establishment of Railways on the one hand, and the Spanish alliance on the other hand to start the second phase of the development of Al-Haramain high-speed railway project.
These agreements seek to enable the Kingdom to become a global logistics hub by strengthening public-private partnerships, in addition to raising the size of the logistics sector in Saudi Arabia to more than 70 billion riyals during the year 2020.
In terms of manufacturing industries, the Ministry signed a framework agreement to invest in two manufacturing plants in the industrial city of Jubail, with Veljan, to develop investment opportunities in the rubber industry, and the establishment of a chemical plant with Halliburton USA, which will be built in Plus kim Complex in Jubail.
The second day of the forum will witness the signing of a framework investment agreement for the establishment of a unit of sustainable central service facilities in the complex of chemical and transfer industries (Plus Kim) in Jubail, with French company Veolia, which provides long-term solutions to manage utility facilities.
Saudi Aramco has signed a number of agreements and memorandums of understanding with a range of international partners, including an agreement for the Gasification Complex and electric power in Jazan, with Saudi Acwa Power and Airprotect of the United States; a memorandum of understanding to invest in the development of the Petro Rabigh refinery between Saudi Aramco and Japan's Sumitomo Chemical Company; a memorandum of understanding for joint investment in the Hyundai refinery and the King Salman Marine Industries Complex project with Hyundai Korea; a joint investment agreement for the manufacture of drilling platforms and equipment in the Kingdom, with NOV in America; a memorandum of understanding to invest in drilling equipment and facilities with Schlumberger of America; a memorandum of understanding to invest in Oil Field Services, Equipment and Technology, with Baker Hughes, GE; a memorandum of understanding to invest in oil field technologies and facilities, with Halliburton USA; a memorandum of understanding for investment in the field of installations of submerged areas, with the UAE National Petroleum Construction Company; a memorandum of understanding to invest in a reinforced thermal plastic pipe facility with Flexsteel; a memorandum of understanding for investment in a drilling chemicals facility, with Kampro; and a memorandum of understanding to invest in non-metallic armaments, with New Zealand's Beltron Company.
Furthermore, SABIC signed a memorandum of understanding with Saudi Rwaq Industrial Company and the German company Schmitz to establish a partnership to develop an industrial project for the production of high purity silicon and its derivatives using the latest technologies used in the manufacture of semiconductors, as well as the production of "alloys" designed to produce photovoltaic cells with high efficiency localization of techniques used locally. SABIC signed another memorandum of understanding with the parties themselves to establish a partnership to develop an industrial project to produce batteries for large-scale energy storage applications to localize the technology.
