Saudi King Salman issued a royal decree mandating the Royal Commission for Jubail and Yanbu (RCJY) to manage and operate Jazan Economic City (JEC), the Saudi Press Agency (SPA) reported.
RCJY will capitalize on its 40-year experience to develop the new city, said RCJY’s chairman Prince Saud Ibn Abdullah Ibn Thunyan.
The commission will focus on luring more investments to JEC; and capitalizing on the city’s strategic location, qualified human capital, and ample natural resources, he added.
JEC is built on an area of 102 million square meters. The city will target heavy industries, petrochemicals, energy, as well as mining and manufacturing industries, according to data compiled by Argaam.
Jazan is the fourth integrated economic city being built under supervision of the Saudi Arabian General Investment Authority (SAGIA).
In 2013, a royal decree awarded Saudi Aramco a contract to provide infrastructure facilities for the project’s first phase.
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