Saudi Arabia aims to manufacture first car by 2022
Plan to set up car assembly centre in cooperation with South Korea’s SsangYong
Abu Dhabi: The Royal Commission in Jubail, a city in the Eastern province on the Arabian Gulf coast of Saudi Arabia and home to the largest industrial city in the world, started developing the infrastructure required for attracting three global automakers, Mohammad Al Zahrani, Director of Industrial Investment Development Department told Al Arabiya TV.
Al Zahrani expects the first Saudi-made car to be manufactured in 2022. The move comes in coordination with South Korea’s SsangYong Motor Co. through setting up a car assembly center. Engineering designs are in advanced stages, Al Zahrani said.
The study conducted by the Royal Commission eyes to attract almost SR40 billion ($10.67 billion) direct investments to the automotive industry by 2040, Al Zahrani added, noting that this sector will contribute SR80 billion to the Saudi Gross Domestic Product (GDP) and provide 27,000 direct jobs.
The Kingdom’s auto complex is part of the strategic industrial plan, as Jubail Industrial City and Ras Al Khair Industrial City provide no less than 90 per cent of the raw materials used in direct automobile manufacturing, he concluded.