Wednesday, October 5, 2011

Mr Al Amoudi plans SAR 4 billion local projects in Saudi Arabia - Reports

DJ reported that Mr Mohammed Hussein Al Amoudi Saudi Arabia businessman plans to implement two local industrial projects at a combined investment of more than SAR 4 billion.

As per report, the first project involves the construction of six units for the production of phosphate derivatives in Ras Al Khair in the kingdom's eastern region at an initial cost of SAR 3.5 billion and with a production capacity of 2.5 million tonnes. Trial operation of the plant is expected to start in the last quarter of 2015.

Mr George Makhoul head of investment strategy at the Mr Amoudi group said that another limited liability company has been established to operate the second project which is in the sulfur sector and which will be located in Jubail industrial city.

(Sourced from Dow Jones)

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