Home Middle East & Africa Saudi Arabia to push development of automobile, pharma and solar industries
Saudi Arabia to push development of automobile, pharma and solar industries

Saudi Arabia to push development of automobile, pharma and solar industries

11
0

Saudi Arabia will develop automotive, pharmaceutical and solar industries, its energy minister said on Sunday, revising its strategy to help the world’s largest oil exporter to diversify its economy.

Khalid al-Falih said the kingdom would set up new industrial clusters such as energy cities south of Dammam, a maritime complex in Ras Al Khair and another city in Jizan for basic and more developed industries.

He said the capital of the Saudi Industrial Development Fund could be boosted to give loans to projects.

Falih was speaking at an annual event for Saudi Basic Industries Corp (SABIC), one of the world’s largest petrochemicals companies.

Source:ET

(11)

Anand Gupta Editor - EQ Int'l Media Network

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *