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The Seventh Annual Industrialists Forum at Yanbu Industrial City


23 May 2017

His Excellency the Chief Executive Officer of the Royal Commission at Yanbu, Dr. Alaa bin Abdullah Nassif, inaugurated the Seventh Annual Industrialists Forum that have been held at the King Fahd Civic Center in Yanbu Industrial City, in the presence of a large number of industry leaders, investors and officials in various major organizations and influential in industrial development. Experts and businessmen in the field of industry and economy to exchange ideas and information during the meetings and discussions of the forum. The CEO of the Royal Commission in Yanbu gave a speech in which he welcomed the participants and stressed that Yanbu Industrial City is the cornerstone of the Kingdom's industrial economy in line with the development goals and the Kingdom's 2030 Vision. He pointed out that the Royal Commission has developed a number of new objectives from announcing the National Transition 2020 program last year Which created the Royal Commission on the basis of "a new vision towards the settlement of industries and supply chain," which are two main elements of Yanbu Industrial Plan in line with the industrial development objectives of the Kingdom. He pointed out that Yanbu Industrial is working to achieve new industrial investments by the year 2020 to more than $ 13 billion, more than the currently existing or construction industries, which are 162 industry, not to mention 54 other industries in the design or planning stages. Total private sector investment in industrial, commercial and residential projects will total about $ 68 billion. He pointed out that the forum sessions will discuss many topics such as logistics, renewable energy, paints and coatings, which will benefit directly and indirectly from the existing industries in our city. Dr. Alaa Nassif pointed out that one of the initiatives of the National Transformation 2020 of the Royal Commission in Yanbu is "the development of the Multimodal Logistics Hub in Yanbu Industrial City. This huge project is being built on a total area of 75 square kilometers. And the initial design of the project. Construction began in late 2016. He pointed out that the main objective of the multi logistics center is to provide advanced logistical services to investors through the maritime, air and rail networks. The project consists of several parts, Storage tanks, joint tanks, metal materials centers and special economic zones, all of which contribute to maximizing the supply chain for investors and bringing in new investments to the Kingdom. Dr. Alaa Nassif confirmed that the Royal Commission in Yanbu is working on implementing the Renewable Energy Project, which is being implemented in partnership with King Abdullah City for Atomic and Renewable Energy and Marafiq Company and others interested in developing a renewable energy plant in Yanbu. To build a solar power plant capacity of 50 MW, pointing out that the Royal Commission in Yanbu established the latest network to provide telecommunications and information technology services throughout the city of Yanbu Industrial, and improve the security and safety systems in addition to the creative services provided to all customers in Residential, commercial and industrial areas. The second session of the forum was attended by the Director of the Industrial Integration Department at the Royal Commission in Yanbu, Eng. Eng. Abdulrahman Mohammed Shamashir, entitled " Yanbu Industrial City Outlook " and then the Director of Information Technology Department at the Royal Commission in Yanbu. Mr. Ayman Awadallah Al-Harbi gave a speech entitled "The First Smart City in the Kingdom, Yanbu Industrial City ". In conclusion, the Executive Chairman of the Royal Commission, Dr. Alaa bin Abdullah Nassif, honored the speakers at the forum and the official sponsors. On the other hand, on the sidelines of the forum, the Royal Commission signed a contract with Farabi Petrochemicals Company to establish its second compound in Yanbu Industrial City to produce paraffin and linear gasoline with a total capital investment of over US $ 1 billion and a total area of 77.4 hectares. Has signed a Memorandum of Understanding (MoU) with Norinco International, a subsidiary of North China Industries (NORINCO), to contribute its technology and expertise to building the components of The Multimodal Logistics Hub in Yanbu Industrial City, including its associated railway station and network. The annual meeting of industrialists, organized by the Royal Commission in Yanbu, is a link between the Royal Commission and the industrialists in the Kingdom in order to strengthen the relationship, expand communication and share visions to create a sustainable development partnership between all parties involved in industrial development. The industrial zone and ambitious development initiatives that will make the industrial city more diversified and offer more opportunities for expansion of existing and future industries and the creation of diverse employment opportunities.

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