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Saudi Arabia to establish USD9.5b mining city  Join our daily free Newsletter

MENAFN - 06/02/2014

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(MENAFN) Saudi Arabia has signed a USD9.5 billion contract for the construction of mineral city in Waad Al-Shamal, Saudi Gazette reported.

The Saudi finance minister said the new city will focus on mining which is a "promising sector that started contributing to the national economy".

The project is expected to help diverse the kingdom's exports and further improve economic growth in the country and the region.

The Ministry of Finance, Saudi Arabia's Public Investment Fund, the national Saudi Railway Company (SAR), the Industrial Development Fund and Sanabil Investment Company are involved in the development of the industrial city.

 






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