Business & Money | Monday 30 May, 2016 12:03 pm |

King Abdullah Economic City (KAEC) has leased a 35,906 square meter parcel of land in Phase 3 of its Industrial Valley to Golden Tuna, highlighting its continued success in attracting national and foreign investment capital.

 

The company will use the land to build a tuna production facility. Construction is scheduled to begin later this year, with production set to begin by the beginning of 2018 for sales in the Saudi, GCC and Egyptian markets.

 

Golden Tuna is investing in KAEC’s Industrial Valley in order to boost its production capacity and expand into global markets, following the company’s dramatic growth in sales, production and manpower this year.

 

“The eagerness of national and international corporations to invest in KAEC is proof positive that we are well on our way to achieving our strategic objective of making the Industrial Valley the region’s manufacturing and logistics hub,” said Fahd Al-Rasheed, Group CEO and Managing Director of KAEC. “The economic city has a unique set of compelling advantages, including a world-class infrastructure, advanced public services, efficient logistics, social, commercial and industrial facilities, and a giant global seaport, all of which have made it the go-to place in which to invest, live and work. The city is fully equipped to become the dynamic center of Saudi Arabia’s non-petroleum economy, which will put the Kingdom in a position of power among the world’s 20 biggest economies. Our city actively succeeds in meeting the needs of all the industries we target.”

 

 Dr. Khaled Khalil, General Manager of Golden Tuna, said that the company’s decision to invest in KAEC’s Industrial Valley is part of its plans to expand into global markets and increase its investments in the GCC and Egypt.

 

“Our decision to manufacture at the Industrial Valley came after we explored all possible investment opportunities and studied KAEC’s existing achievements, after which we concluded that the city is the best possible place to take our national and international investments, given its capability to be an engine of change in the Saudi economy and the many facilities the government provides to accelerate growth,” he said.

 

. A comprehensive range of housing solutions, such as the Village project, provide an ideal residential environment for workers and supervisors.

 

Rayan Qutub, CEO of the Industrial Valley, stated that the completion and opening of Phase 3 to investors was a breakthrough that has helped bring about many new achievements, underscored by its popularity with national and international investors and corporations, thanks to the wide range of services and advantages that facilitate the ease of establishing commercial and industrial operations in KAEC. Mr. Qutub also pointed out that King Abdulla Port will play a major role in Golden Tuna’s growth in exports, and expand the company’s reach to more than 620 million consumers in Red Sea region.

 

“To date, 120 national, regional and global corporations have invested in the Industrial Valley, 24 of which have already begun production, with 30 others in the process of building their facilities. The six industries that the Industrial Valley is geared towards are food and consumer goods, pharmaceuticals, logistics, plastic industries, construction materials and automotive industries,” he said.