Project will be developed by local company Gulf Copper

Saudi Arabia’s Ras Al-Khair Industrial City has signed an industrial land agreement with local firm Gulf Copper to develop a copper smelting and casting plant at an investment of 1.18 billion Saudi riyals ($319.30 million), the Royal Commission for Jubail and Yanbu said in an official tweet. 

The project would be developed on a plot spanning more than 250,000 square metres in the industrial city. No construction timelines were given.

In January, Ahmed Hassan, CEO of Ras Al-Khair Industrial City, said that Jubail and Ras Al Khair industrial cities are contributing around 90 billion riyals ($24 billion) to the Kingdom’s Gross Domestic Product.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)

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