Hindi added. <Al-Hindi added at the introductory meeting on industrial investment opportunities in King Abdullah Economic City yesterday at the Riyadh Chamber: Among the 80 factories are Almarai, IKEA, Pfizer Pharmaceuticals, Volvo, Renault, Total, Mars, Panda, Halwani Brothers, Olayan, Aramex, and Abdul Latif Jameel.
Hindi added at a meeting to introduce industrial investment opportunities in King Abdullah Economic City yesterday at the Riyadh Chamber. <He explained that between 20-30 factories will start production in 2015, adding that the majority of companies preferred to buy land rather than rent it, noting that the industrial valley is located on an area of 55 million m2 to be developed in several phases, and that the first phase has begun. <Al-Hindi stated that there are five factors that characterize the industrial valley, namely: The strategic location, the presence of a single regulatory body that completes all government transactions, the availability of a comprehensive transportation network by land, sea, air and rail, the provision of all land solutions, and the integrated city.
Hindi said that there are five factors that distinguish the industrial valley. <He pointed out that nine thousand square meters have been provided for small investors, and said: The rent per meter in the 20-year contracts is 14 riyals per square meter.
Riyadh Qutb said. <For his part, Riad Qutb, CEO of Industrial Valley, said: There is an integrated residential city to serve all activities in the city, and it is expected that there will be about 50,000 residents in the economic city during the next five years, adding: We invite businessmen in Riyadh to visit the city to see on the ground the potential of the city and the Industrial Valley, Qutb explained: We are present among you to listen to any remarks or inquiries and provide all facilities. <Ammar Kanaan, Chairman of the National Container Company, emphasized that King Abdullah Port was designed to be among the ten largest ports in the world with a capacity of one million containers per year, explaining that 900,000 containers were received last year: The port is characterized by having the latest equipment that deals with giant ships, and he expected the port to reach the reception of two million containers in 2025.
<Saad Al-Mojel, Chairman of the Industrial Committee of the Riyadh Chamber, called for the importance of the return of the Ministry of Industry: The industrial sector now prefers to own industrial land instead of renting it, explaining that leasing industrial land for five years is no longer feasible, noting that the Industrial Development Fund refuses to lend to factories on land leased for five years or less.
Saad Al-Mojel, Chairman of the Industrial Committee of the Riyadh Chamber, called for the importance of returning the Ministry of Industry. Al-Mojel looks forward to facilitating the provision of services and infrastructure in the industrial valley, especially for electric power, and expressed his hope that industrial investment projects will be launched, and that the Authority will be a strong tributary to industrial development in the Kingdom, especially in reassuring investors, and retaining their sites in industrial investment with long and clear contracts, and that they can recover their money they have invested in their investments in a not long period without change in prices or the cost of services.
Al-Mojel said: “I hope that the industrial investment projects will be launched and that the Authority will be a strong tributary to the industrial development in the Kingdom. <Mr. Al-Majel said: King Abdullah Economic City represents one of the major economic and investment edifices in our country, and holds good omens for a brighter economic, industrial and developmental future, and industrialists hope that it will give a strong boost to the industrial edifice in the Kingdom and draw new milestones on the road to our industrial and developmental renaissance.
Al-Majjal added: ”We hope that the city will give a strong impetus to the industrial edifice in the Kingdom. <Mr. Al-Majel added: "We in the Riyadh Chamber, based on its responsibility to serve the industrial sector in the Riyadh region and the Kingdom, appreciate the effort exerted by King Abdullah Economic City and the Industrial Valley to organize this meeting, which will introduce industrialists to its efforts to build a fertile and attractive investment environment, and we are happy to extend our hands for constructive and fruitful cooperation with the city, in order to achieve the goals that we all share in achieving in order for Saudi industry to take its rightful position as an engine of development and as one of the sources of diversifying income and expanding our national economy base."
Mojel added.
