$10bn Jazan port to have largest ship maintenance facility
Plans are under way to establish a state-of-the-art port with a shipbuilding plant in Jazan at a cost of $10 billion. Businessmen attending the Feb. 25-26 Jazan Economic Forum will be briefed on the vital project, which is likely to change the region’s trade and economic dimensions.
“The project includes establishment of a ship building factory and a hotel,” said Eyad Al-Aukeli, adviser to Prince Turki bin Mohammed bin Nasser, director of international relations at the Ministry of Commerce and Industry. “This is a huge project that will cost $10 billion,” Al-Aukeli told Arab News.
He said work on the project would start soon. “Prince Turki will meet with Jazan Gov. Prince Mohammed bin Nasser shortly to present the project and identify a suitable location for the port, which will have the largest ship maintenance facility on the Red Sea,” Al-Aukeli said.
He said Prince Turki recently met with Chinese Ambassador Li Chengwen and discussed prospects of Chinese companies participating in the project.
Sheikh Rafik Mohammed, chairman of Gammon Group, which is developing the 75 billion Jazan Industrial City, said the new port would boost the region’s economic, trade and industrial growth. “The new port will facilitate export of products manufactured at the industrial city to Africa and other markets.”
Jazan Gov. Prince Mohammed will open the Economic Forum on Wednesday in the presence prominent government and business leaders including Prince Sultan bin Salman, president of the Saudi Commission for Tourism and Antiquities, and Petroleum and Mineral Resources Minister Ali Al-Naimi.
The two-day forum aims at wooing domestic and foreign investment in vital sectors including tourism, petrochemicals, pharmaceuticals, automobiles, food industries and infrastructure projects including Jazan Port. “Prince Turki has invited leading foreign investors to attend the forum,” said the Gammon chief.
During the forum experts will describe in detail the investments being made in a new industrial base and world-class infrastructure. Covering an area of 106 square km, the JEC occupies a strategic coastal location approximately 70 km from Jazan city in a region known for its abundant natural resources. The project represents a multibillion-dollar investment by the Saudi government and the private sector to fast-track the growth of Jazan, a region that is well positioned as a gateway to the Kingdom.?The current investment in JEC, scheduled for completion in 2017, focuses on smart infrastructure to meet the energy, utilities and transportation requirements of a diverse industrial base. Among its features are a new seaport and terminal, a 400,000-barrel per day multibillion-dollar refinery, and a new 2,400 MW power generation plant. A new airport and a 660 km Jazan-Jeddah coastal highway will complement these developments.