King Abdullah Economic City attracts three new investors to the Industrial Valley
King Abdullah Economic City has signed contracts with new three manufacturing companies that are investing in the city’s Industrial Valley to take advantage of the promising opportunities offered by the booming Saudi market in many of the industrial sectors.
The three companies are: the “Paint Innovation Factory”, a Saudi-German joint venture for the production of high quality paints, which will establish its plant in the first phase of the industrial valley; the second is “Neem Arabia” for Wood Construction, which will construct a facility for the production of decorative woodwork; and the “Jeddah Aluminum” Company Limited, one of the leading companies in the industry since 1976, which will build a factory for the production of windows and doors for residential complexes, towers, commercial buildings and shopping centers.
Commenting, Mr. Rayan Qutub, COO of the Industrial Valley in KAEC, said: “These three new factories have chosen to invest in KAEC because of the IV’s highly developed infrastructure, world class service facilities and the strategic advantages of its location.”
KAEC’s Industrial Valley offers unrivaled import, export and distribution advantages due to its close proximity to King Abdullah Port, which has already begun to receive the largest cargo ships in the world; new super highways for road transportation; the Haramain Railway train station, which will connect KAEC with Jeddah, Makkah and Madinah; also the land bridge that will provide direct connection to the Kingdom’s central and east regions.
Continuing his comments, Mr. Qutub said: “King Abdullah Economic City has achieved great success in attracting more than 70 leading local and international companies have chosen the Industrial Valley as their operational base where several have actually begun to establish their factories and operational facilities, while some have already started production, including Mars Saudi Arabia; the largest chocolate factories in the world, GREIF; a world leader in textile and plastic packaging products and services, and Petra Engineering Industries. In fact, some of them have now begun exporting to countries outside the Kingdom.” We are confident that these factories will achieve our objective to provide many job opportunities for Saudi youth and I am pleased to say that a number of companies are currently offering training programs for cadres of talented Saudi nationals.”
The direct link between the Industrial Valley and King Abdullah Port in KAEC makes the IV a global logistical hub and an access point to reach 250 million consumers in the Middle East and North Africa, and making it one of the key drivers of the Saudi economy.