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3,381 factories with invested capital reached more than SR239 billion
Jeddah, 20 February 2001

Industrial development in the Kingdom of Saudi Arabia, which has resulted in the building of 3,381 factories in a short period of time, has turned the Kingdom from an importer to an exporter of industrial products. According to a statistical report obtained by the Saudi Press Agency, in 1421 AH, the invested capital in these factories reached more than SR239 billion and the number of workers rose to 310,000.

The chemicals industries topped the industries' list, and were followed by the industries of plastic materials, ceramics, construction materials, textiles, readymade clothes, mineral products, equipments, foodstuffs and other industries.

The Kingdom of Saudi Arabia currently exports annually, to more than 118 countries, non-oil industrial products worth SR20 billion. The report highlighted the contribution of the manufacturing industries, excluding oil refining, to development of the national economy.

The industrial growth rate reached nearly 10 percent. Industrial production amounted to SR82 billion, while sales of national industries in the local market amounted to SR51 billion.

In line with the strategic goals of the development plans, the Saudi Basic Industries Corporation (SABIC) was set up in 1396AH. Its marketing activities extended to more than 90 countries, through 18 industrial complexes, with a production capacity of more than 25 million metric tons and a total capital of more than SR104.1 billion. By the end of 1999, there were 16,000 workers and trainees at SABIC. Eight industrial cities were built, with 21 factories for basic industries, 12 factories for non-basic industries and 112 factories for light and support industries.

The reports noted that the successive development plans had stressed the need for industrialization as an ideal means for realizing the goals of development and diversification of the production base and depending less on oil revenues.

Source: SPA

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21 February 2001 04:56:06 PM

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