Saudi Arabia to Build Car Manufacturing City
Saudi Arabia is currently developing a plan for a car manufacturing city, and working to incentivize investors to inject money into the industry, the Ministry of Energy, Industry and Mineral Resources said on its official Twitter account.
The oil-rich Kingdom will also provide the required raw materials including aluminum, rubber, plastics, and others at competitive prices.
The Auto Cluster, as part of the Industrial Clusters, aims to attract Saudi and foreign investments, increase exports, provide job opportunities, and contribute to economic diversification as part of its 2030 Vision.
The ministry gave no further details on the project’s timeframe or its cost.