Aramco energy industrial city to be completed in 2021

 16 Jul 2017 - 22:59

Aramco energy industrial city to be completed in 2021

Agencies

State oil firm Saudi Aramco  said the first phase of a new Energy Industrial City in Saudi Arabia will be completed in 2021. Last week, the Saudi government said it approved Saudi Aramco’s plans to set up two new companies that will develop and operate the new Energy Industrial City as the kingdom seeks to expand its industrial base. The city, which will be developed over 50-square km of land allocated for energy-related industries, will complete its first phase that covers almost 12-square km by that date, Aramco said in a statement late on Saturday. The city will be located between Dammam and Ahsa, at the heart of energy operations, the statement said. An earlier report said the city will be close to Abqaiq, which is in the middle of Dammam and Ahsa. Ghawar, the world’s largest onshore oilfield is near al-Ahsa. The Saudi Industrial Property Authority (Modon) which develops industrial cities in Saudi Arabia has started to lay out plans and programmes with Saudi Aramco to develop and operate the city, the statement added. The city is expected to add 22.5bn riyals to gross domestic product (GDP) each year and create thousands of jobs.