Riyadh – Mubasher: The volume of investments in Wa’ad El Shamal project exceeds SAR 36 billion and will add, at the completion of its basic stages, SAR 15 billion to Saudi Arabia’s gross domestic product (GDP), Saudi Press Agency (SPA) reported, citing the minister of energy, industry, and mineral resources.
The project represents the optimum investment of the mineral wealth in the Kingdom, especially the phosphate reserves in the northern border region, which are estimated to house 7% of the world's total phosphate reserves, Khalid Al Faleh added.
The Wa’ad El Shamal project is an integrated mineral city, located in Ta’if in the northern border area of the Kingdom.
The late King Abdullah bin Abdul Aziz had ordered the construction of the city in 2012 and awarded its development to the Saudi Arabian Mineral Company (Ma'aden).
