Saudi, China Sign Deal for Industrial City & Logistics Zones

  • Publish date: Thursday، 09 May 2024
Saudi, China Sign Deal for Industrial City & Logistics Zones

Saudi Arabia and China have entered into an agreement to establish a 12-factory industrial city and logistics zones for construction materials. The deal was signed by Saudi's National Housing Company (NHC) and China's CITIC Construction Group.

Purpose of the Agreement

The agreement aims to speed up housing projects in Saudi Arabia by leveraging Chinese expertise and attracting major construction material manufacturers. The partnership seeks to elevate the quality of residential projects and modernize the Saudi construction sector.

Saudi, China Sign Deal for Industrial City & Logistics Zones

Benefits and Impact

The collaboration will provide opportunities for local factories to grow, streamline production lines for NHC projects, and boost the Saudi building materials industry. It is also expected to create new jobs in the construction sector.

Minister's Statement

Minister Majed Al Hogail called the agreement a "turning point" for the region, noting that it would localize building and construction products in the kingdom, supporting housing projects.

Earlier Agreements

Earlier in the week, the Saudi ministry signed agreements with several major Chinese construction firms to tap into investment opportunities in Saudi real estate.

China's Connection

This partnership follows Chinese President Xi Jinping's December 2022 visit to Saudi Arabia, during which he pledged to expand opportunities for teaching Chinese language in Gulf countries.

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