(MENAFN - Arab News) Executive President of the Royal Commission in Yanbu, Alaa bin Abdullah Nasif, launched the third Industrialists Forum on Sunday.
The launching ceremony was held at King Fahd Urban Center.
Nasif said the commission and private sector have invested more than SR 200 billion to develop industries in the city.
It currently has more than 100 industries including 14 primary ones, 20 secondary industries, and 67 light and support industries.
He said there are 26 under-construction factories and 32 projected ones that are in the stage of study and design with a total investment volume of SR 182 billion.
The launch of the forum was attended by a large number of leading industrialists and officials from different bodies concerned with industrial development.
Industrial Yanbu, world's third largest oil refinery complex, is one of the resources for Saudi Arabia's strategy to develop petrochemical industries, he said.
The forum is aimed at strengthening relationship between industrialists and the Royal Commission, as well as expanding communications and sharing visions to create a sustainable industrial development, he added.
The city is witnessing a massive expansion of its industrial zone. Ambitious initiatives will make the city become more diverse and create expansion potentials for existing and projected industries, as well as more and diverse job opportunities.
The forum discussed a vision for Industrial Yanbu in 2030 and Yanbu's car manufacturing complex for Jaguar, Land Rover and Tata Motors car manufacturers. Renewable energy industries, logistic services complex and saline water desalination industries were also on the agenda.