saudi arabia set to build assemble cars by 2021
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

Saudi Arabia set to build, assemble cars by 2021

Arab Today, arab today

Arab Today, arab today Saudi Arabia set to build, assemble cars by 2021

Riyadh - Arabstoday

Saudi Arabia plans to manufacture car parts by 2013 and to build two car models and assemble cars in about 10 years, said an official who is handling the development of country’s automotive industry. “It’s a big challenge and that is why the government is involved in developing the automotive sector,” Azzam Shalabi, president of the government’s National Industrial Clusters Programme, said in an interview on Monday in the eastern coastal city of Dammam. The kingdom, the world’s largest oil exporter, is trying to develop new conversion industries in areas around refineries and petrochemical plants that are being built by Saudi Arabian Oil Co and Saudi Basic Industries Corp. The country is developing the clusters to diversify the economy and provide more jobs to its rapidly growing population. In those areas, Saudi Aramco and Sabic, as the companies are known, will provide petrochemical products to producers of finished goods used in making cars, solar-energy products, home appliances, and plastic and packaging products, Shalabi said. The Sadara chemical joint venture of Saudi Aramco and the Dow Chemical Co will create a plastics-manufacturing park next to its complex, said Fayez al-Sharef, Aramco’s chemical project director. The park will create businesses valued at $2bn, he said in Dammam on Monday. “We estimate that by developing a sustainable scale industry, the kingdom could create 100,000 direct jobs and add SR40bn ($11bn) to the GDP annually.” He said that a sustainable industry will be producing about 500,000 cars a year. Saudi Arabia will be developing two car models, to be called the Ghazal and Assilah, he said. The Ghazal is being developed by King Saud University, and the Riyadh Techno Valley Co. is conducting a project-feasibility study for it. The Assilah will be developed by King Abdulaziz City of Science and Technology, he said. Saudi Arabia is also trying to convince large automotive companies to assemble cars in the kingdom. Japan’s Isuzu Motors Ltd. has a plant to assemble heavy and medium-size trucks in Dammam, where it will start production in 2012 with the aim of producing 25,000 vehicles a year, Shalabi said. To attract foreign auto investors, Saudi Arabia is developing an automotive-zone master plan that will allow manufacturers to share some production facilities and logistics operations. “This zone concept is being discussed with auto companies to validate its feasibility and acceptability,” Shalabi said. The government is also giving financial incentives to investors. The state-owned funds will provide 75 percent of the project cost as a soft loan for 20 years in underdeveloped areas of the country, such as Najran in the south and Tabuk in the north, while it will finance 50 percent of the project for 15 years in other areas of the country, he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi arabia set to build assemble cars by 2021 saudi arabia set to build assemble cars by 2021

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi arabia set to build assemble cars by 2021 saudi arabia set to build assemble cars by 2021

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 01:41 2017 Saturday ,12 August

Moroccan video sparks debate on sexual harassment
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday