SNAM, S. Korea’s SsangYong Motor to build vehicle factory in Jubail

Saudi National Automobiles Manufacturing (SNAM) and S. Korea’s SsangYong Motor Co. signed a deal to build a vehicles plant in Jubail II, according to Al-Ekhbariya TV.

The construction is set to start by the beginning of next year, while production will begin 20 months later.

Under the multi-staged deal, which involved parts manufacturing, the firms will start with vehicle assembly before launching full production, SNAM’s CEO Fahd Al-Dohish said.

Upon full production, the factory will produce 30,000 cars and will provide 750 direct jobs within the plant and 2,000 indirect jobs across Jubail, he added.