SME Times is powered by   
Search News
Just in:   • For first time, India to host global meet on cyber space  • SMEs should adopt GST with certain precautions: Kapil Nayyar  • Actively working towards clean political funding: FM  • Inaugural Hong Kong Sports and Leisure Expo opens on Friday  • 'Undisclosed income of over Rs 5,400 cr detected after demonetisation' 
Last updated: 17 Jul, 2017  

Saudi.Thmb.jpg Saudi Arabia to build Industrial Energy City, aims to boost economic growth

Saudi.Arabia.jpg
   Top Stories
» 'GST Council may alter tax rates on textiles, hybrid cars'
» No shortage of cotton/ yarn in country: Govt
» 'African countries offer tremendous business opportunities'
» 'Nexus Incubator' awarded graduation to 10 Indian startups
» Jan-Dec financial year under Govt consideration: FM
IANS | 17 Jul, 2017
Saudi Arabia aims to boost its economic growth and create more jobs through a grand project to build the Industrial Energy City in the Eastern Region, a government official said on Sunday.

Khalid bin Abdulaziz Al-Faleh, Minister of Energy, Industry and Mineral Resources said that the project will localise industries supporting the energy sector related to oil exploration, production and refining, petrochemicals, conventional electric power, water production and treatment.

According to Xinhua, the decision to establish a new industrial city for energy is in line with the Kingdom's vision 2030 and supports the vital infrastructure of the supply chain in the Kingdom.

Faleh added that, in terms of national economic impact, this grand project will create thousands of jobs, contribute $6 billion to the economy per year, and localise new industrial and service facilities that help to innovate, develop and compete globally.

Amin Hassan Al-Nasser, president and CEO of Saudi Aramco, hailed the new city as "a strategic project and a milestone" in localising energy-related industries and services, attracting foreign investment, creating a number of companies, and stimulating innovation and entrepreneurship."

"This invites us to encourage our partners across the supply chain in the Kingdom and the world to take advantage of trained local laborers and opportunities that will be available there," Nasser said.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
65.65
63.95
UK Pound
85.35
82.50
Euro
74.65
72.25
Japanese Yen 58.30 56.35
As on 23 Jul, 2017
  Daily Poll
Would you like to go for the Digital MSME scheme?
 Yes
 No
 Can't say
  Commented Stories
» Co-origination model: A new approach to MSME credit(12)
» Starting an import export business: Basic guide for beginners(6)
» Digital MSME scheme: Cloud made easier(5)
» RBI for PCR, says will address credit issue of MSMEs, startups(2)
» PSU banks interested in lending to SMEs: CoinTribe(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter