The Minister of Energy, Industry, and Mineral Resources, Chairman of the Board of Directors of Saudi Aramco, and Chairman of the Board of Directors of the Saudi Authority for Industrial Cities and Technology Zones (MODON), Engineer Khalid Al-Falih, revealed that the Industrial Energy City to be established in the Eastern Province will contribute 22.5 billion riyals to the gross domestic product annually, in addition to creating thousands of direct and indirect jobs.
Al-Falih expressed his gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, for his gracious directive to establish the Industrial Energy City, explaining that the project aims to localize industries supporting the energy sector related to oil exploration, production, and refining; petrochemicals; conventional electricity; and water production and treatment.
He noted that the decision to establish a new industrial energy city is in line with the Kingdom’s Vision 2030, and supports the critical infrastructure of the Kingdom’s supply chain. He noted that the national economic impact of this major project will include the creation of thousands of direct and indirect jobs, as well as an annual contribution of 22.5 billion riyals to the gross domestic product, and the establishment of new industrial and service facilities that will foster innovation, development, and global competitiveness.
For his part, Saudi Aramco President and CEO Engineer Amin Hassan Al-Nasser said, «The new industrial energy city in the Eastern Province will be a flagship project and a milestone in efforts to localize energy-related industries and services, and will provide an ideal, integrated environment to attract investment from global companies, establish and develop a large number of small and medium-sized enterprises, and stimulate innovation and entrepreneurship, This encourages us to urge our partners across the supply chain in the Kingdom and around the world to take advantage of the opportunities and the trained local workforce that will be available there.»
