08 Safar 1443 - 16 September 2021
    
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Eye of Riyadh
Eye of Riyadh
Business & Money | Sunday 4 July, 2021 1:09 am |
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Foundation stone laid for $880m Chinese LED project in Saudi Arabia's Jubail

Chairman of the Royal Commission for Jubail and Yanbu, Abdullah Al-Saadan, laid the foundation stone for a SR3.3 billion ($879.8 million) factory to produce LED lighting lamps in the in Blaskim area in Jubail 2.

 

The factory for China’s Shengkong International Company for Industry is expected to create more than 4,000 jobs, SPA reported.

 

The project has come together thanks to the collaboration between the Royal Commission and partners from Saudi Aramco, SABIC, Saudi Silk Road Company and China, Al-Saadan said.

 

Jubail Industrial City and the other Royal Commission cities represent 6 percent of petrochemical production worldwide, he said.

 

SABIC and Shengkong International signed a Memorandum of Cooperation (MoC) to supply the project with the necessary raw materials, while the Saudi Silk Road Company for Industrial Services and CPC Company will produce plastic materials for medical use.

 

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