Jubail aims to build first Saudi-made car by 2022

      Published on Sunday, 17 January , 2021      512 Views     
Jubail aims to build first Saudi-made car by 2022

  • Business

The Royal Commission in Jubail started developing the infrastructure required for attracting three global automakers, expecting the first Saudi-made car in 2022.

The move comes in coordination with South Korea’s SsangYong Motor Co. through setting up a car assembly center. Engineering designs are in advanced stages, Al-Zahrani said.

The study conducted by the Royal Commission eyes to attract almost SR40 billion ($10.67 billion) direct investments to the automotive industry by 2040, Al-Zahrani added, noting that this sector will contribute SR80 billion to the Saudi Gross Domestic Product (GDP) and provide 27,000 direct jobs.

The Kingdom’s auto complex is part of the strategic industrial plan, as Jubail Industrial City and Ras Al-Khair Industrial City provide no less than 90 percent of the raw materials used in direct automobile manufacturing, he concluded.

Category Business | 2021/01/17 latest update at 4:00 PM
Source : Gulf Insider | Photocredit : Google
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