Monday, October 29, 2007

GCC invests US$ 115 billion in manufacturing sector

from MENAFN Press

According to research company Proleads, the total value of all non-oil and gas industrial projects in the region currently exceeds US$ 115 billion. Already a major manufacturer, Saudi Arabia has an estimated total value of active industrial projects well in excess of US$ 50 billion. The Kingdom has started to accelerate the growth of its industrial base with numerous industrial zones being created. The latest, King Abdullah Economic City, is now being developed, outside of the Red Sea port of Jeddah, at an initial investment of US$ 26.6 billion.

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