Riyadh – Mubasher: The under implementation projects in King Abdullah Economic City worth around SAR 6 billion ($1.6 billion), excluding the contracts of King Abdullah port and the contracts of the trade and industrial companies, KAEC CEO said.
Fahd bin Abdul Mohsen Al-Rasheed, KAEC CEO, added to Saudi Press Agency (SPA) that the City got new contracts at a value of SAR 1.6 billion in 2016, including 30% to develop the industrial valley and 40% to develop the housing and touristic areas.
Al-Rasheed noted that KAEC continues to grow and has a strong financial position enables it to invest and expand to achieve the sustainable development.
KAEC entered into contracts with 2,700 importers since the beginning of the development works, with most of them from the national companies, the CEO added.
