Saudi- British delegation eyes Jubail investment 

(MENAFN - Arab News) A high-powered business delegation, representing 40 British companies specialized in energy and gas industries, has announced willingness to set up industrial projects in Jubail and Ras Al-Khair industrial cities.

The British investors, who met with officials of the Royal Commission for Jubail and Yanbu (RCJY), were briefed on the investment opportunities available in the two industrial cities, according to local media.

The British delegation expressed keen interest in entering into genuine partnerships with the RCJY in areas related to project management, mega construction projects, engineering design, research and development, training and education and financial services in light of the facilities and good investment environment provided by the RCJY.

The British delegation was also briefed on investment prospects in Jubail 1 and 2 industrial areas, and visited the housing area as well as the business center. They were shown a presentation on the RCJY activities and services.

The delegation members voiced appreciation of the development achieved by the Jubail-based industries in terms of production, sales, industrial technologies and patents obtained by some Saudi companies.

They, in particular, stressed the role of petrochemical firms in serving the national economy, exploitation of hydrocarbon resources and establishment of basic industries of competitive edge worldwide.

They hoped to see more investments in petrochemical industries between the British investors and their Saudi counterparts as a step to push business and economic cooperation into broader aspects.

The British group's show of interest comes after a group of French investors, representing 35 French companies, last week announced plans to invest in a series of new joint petrochemical and industrial projects in Jubail Industrial City.