Royal Commission for Jubail and Yanbu attracts SAR 50 bln worth of investments in Q1 2020

The Royal Commission for Jubail and Yanbu (RCJY) attracted investments worth over SAR 50 billion during the first quarter of 2020, Saudi Press Agency reported citing RCJY chairman Abdullah Al-Saadan.

Al-Saadan said RCJY is still receiving requests for investments despite the coronavirus outbreak.

He also said that the shipping line linking Yanbu Industrial City with Jeddah Islamic Port and East African ports will further help investors to reach customers at a competitive cost, which will increase volumes of import and exports in the future.

He also expected Jazan City for Primary and Downstream Industries (JCPDI) to start operations by next year.

Al-Saadan's comments came during a virtual meeting with members of National Industrial Committee at the Council of Saudi Chambers, along with RCJY’s executives.