RC attracts SR8 from private sector for every SR1 spent by govt

RC attracts SR8 from private sector for every SR1 spent by govt

The Ministry of Industry and Mineral Resources disclosed that the Royal Commission for Jubail and Yanbu achieved many successes and successive accomplishments during the past period.

It stated that the total value of investments in the Royal Commission reached SR1.191bn. While the number of basic and secondary industries has reached nearly 870 industries.

The key factor is that for every riyal spent by the government on the Royal Commission for Jubail and Yanbu; SR8 is attracted from the private sector.

The ministry said that the value of the Royal Commission’s investments has reached nearly SR203bn; equivalent to 17 percent of the total investments.

Meanwhile, the private sector investments reached nearly SR988.4bn; equivalent to 83 percent.

According to private sector investments, industrial investments amounted to approximately SR934.31bn; urban investments to SR37.41bn. While the value of commercial investments reached SR16.69bn.

The investments were among four major cities — Jubail, Ras Al-Khair, Yanbu, and Jazan — supporting a population of 430,000 among the population of the Royal Commission.

The number of the workforce in the cities reached 194,000 workers, while the total number of employees in the Royal Commission has reached 10,000.