Royal Commission for Jubail & Yanbu inks 5 investment deals for new projects

Royal Commission for Jubail & Yanbu inks 5 investment deals for new projects

The Royal Commission for Jubail and Yanbu has signed five agreements worth more than $11 billion (SR43 billion) to establish projects in Ras Al-Khair Industrial and Yanbu Industrial Cities.

The deals were signed on the sidelines of the International Mining Conference held at the King Abdulaziz International Conference Center in Riyadh.

The agreements included the signing of the Royal Commission for Yanbu two investment agreements, the first with the Red Sea Aluminum Industrial Company to lease industrial land in Yanbu Industrial City, to establish a factory project for smelting and rolling aluminum and its alloys, drawing, purifying and casting, in addition to casting non-ferrous metals, to contribute to meet the local, regional and global market demand.

Moreover, the factory will also stimulate the existence of manufacturing industries and provide future localization opportunities and achieve the Mining Strategy 2030.

The project, which will be established on an area amounting to 703.8 hectares, is expected to provide 5,517 job opportunities to contribute to mining infrastructure projects through the mining ore distribution port, which is a strategic gateway to access global markets.

The second agreement was signed with the EV Metals company (EVM) and aims to lease industrial land to establish a complex for the production of high-purity