Investment in Saudi Ras Al-Khair zone put at $47bln
Saudi Arabia's Ras Al-Khair industrial city has attracted investment in mining and related sectors worth nearly 176 billion Saudi riyals ($47 billion), its CEO has said.
Mohammed Al-Deeb told the Saudi daily Aleqitsadia on Monday that the zone's authority and three key ministries have joined hands to boost investment in the city, which is located in the Eastern flank of the Kingdom.
He said the Royal Authority for Ras Al-Khair is working in coordination with the Ministries of Investment, Energy and Industry to attract more capital.
'At the end of 2024, total investments in Ras Al-Khair stood at nearly SAR176 billion...nearly 91 perent of the investments belong to the private sector,' he said.
Deeb revealed that investment in Ras Al-Khair is highly profitable, with return reaching nearly 12 times.
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