Total investments in the twin industrial cities of Jubail and Yanbu have reached SR 800 billion, according to Prince Saud bin Abdullah bin Thunayan, chairman of the Royal Commission (RC).
Speaking to reporters on the sidelines of the World Economic Forum (WEF) in Amman, he called for the economic integration of Arab countries by carrying out joint investment projects.
He said the Saudi government’s move to promote the industrial sector, especially petrochemicals and minerals, was a strategic option to accelerate its diversification drive.
“Custodian of the Two Holy Mosques King Abdullah launched a number of new industries in Jubail and Yanbu valued at more than SR 400 billion,” he said.
He said the RC has invested about SR 10 billion for the development of infrastructure in the new Ras Al-Khair industrial city. Work on a 85-km road between Jubail and Ras Al-Khair has been completed.
He revealed plans to open new industries in Jubail and Yanbu.
Mohammed Al-Mady, vice chairman and CEO of SABIC, said the WEF was a golden opportunity for Arabs to discuss vital economic, political and social issues and find viable solutions to them. He backed Prince Saud’s call urging Arab countries to promote partnership in economic, investment and trade sectors. “Arab interest demands the need to give priority to investing in Arab countries as it would strengthen Arab economies,” Al-Mady said.
Joint investments for Arab economic integration stressed
Joint investments for Arab economic integration stressed
Iran missile barrage sparks explosions over Tel Aviv
- Two near-simultaneous waves of explosions reverberating across the city
- Israel’s emergency services confirms plenty of damage but said there were no casualties
TEL AVIV: The latest Iranian missile barrage sparked a wave of explosions across Tel Aviv as firefighters worked to contain a blaze at a residential building near Israel’s commercial hub on Friday.
The blasts came after Israel expanded its campaign against Hezbollah, vowing retribution against the Tehran-backed militant group for joining the conflict following the killing on Saturday of Iran’s supreme leader, Ayatollah Ali Khamenei.
Iran’s state broadcaster said Tehran had fired missiles “against targets in the heart of Tel Aviv,” after Israel’s military said it was working to intercept incoming Iranian fire late Thursday.
AFP journalists in Tel Aviv heard two near-simultaneous waves of explosions reverberating across the city.
Rocket trails also lit up the sky in Netanya, a city north of Tel Aviv on Israel’s Mediterranean coast.
After the barrage, Israel’s emergency services, the Magen David Adom (MDA), said its teams had visited several reported impact sites but that there were no casualties.
Israeli police said it was “currently handling scenes involving fallen projectiles in central Israel,” adding that there was “damage” but no injuries.
A projectile hit a building on the outskirts of Tel Aviv, forcing residents to evacuate.
At another residential site near Israel’s economic hub, firefighters worked to put out a blaze caused by falling debris after an Iranian rocket fire was intercepted.
Israel’s Home Front Command issues several rocket fire warnings early Friday for communities near the Lebanon border.
