Arab Steel Summit
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Arab Steel Summit

Saudi Arabia: 80 new factories were licensed in February, with investments of 4.3 billion riyals, led by the minerals sector

The Ministry of Industry and Mineral Resources issued 85 industrial licenses last February, while 80 factories started production operations during the same period, with investments of 4.3 billion riyals.

The ministry stated that the investment volume in new licenses amounted to 1.9 billion riyals. Small enterprises acquired most of them by 85.88 per cent, followed by the medium at 11.76 per cent and ultra-small ones at 2.35 per cent. While national factories recorded, the most considerable percentage of the total licenses issued with 82.35 per cent, followed by foreigners with 12.94 per cent, then the joint investment at 4.71 per cent.

The new industrial licenses were distributed among nine administrative regions, topped by Riyadh with 37 factories, followed by Eastern Province with 21 factories, Makkah Al-Mukarramah with eight factories then Madinah and Qassim with five factories each, Asir with four factories, Al-Jawf with three factories, and one factory for Tabuk and Ha’il.  This included many activities, led by shaped metal products manufacture, except for equipment and machinery, with 18 licenses, food products manufacture with 14, and rubber and plastic products manufacture with ten.

The ministry indicated that the factories that started production during February amounted to 80 factories, with investments amounting to 4.3 billion riyals, topped by non-metallic minerals with 30 factories, followed by foodstuffs with 12 factories, then formed minerals with eight factories, rubber and plastics with five factories, and chemicals with four factories. While Al-Wataniya acquired the total factories that started production with 86.25 per cent, followed by foreign ones with 11.25 per cent, then joint ventures with 2.5 per cent.


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