Saudi Arabia’s Royal Commission for Yanbu (RCY) has announced that it will build a major refinery on the Red Sea coast at a cost of USD 5.3 billion, which would be completed within three years. It will be the third largest refinery on the west coast of Saudi Arabia.
The refinery will produce petroleum products that will be used for petrochemical industries. It is understood that RCY is going ahead with a variety of new industrial projects. There are plants in Yanbu Industrial City to produce solar cells, plastic materials used for cars, in addition to building materials.
The refinery will produce petroleum products that will be used for petrochemical industries. It is understood that RCY is going ahead with a variety of new industrial projects. There are plants in Yanbu Industrial City to produce solar cells, plastic materials used for cars, in addition to building materials.
The total spending on Yanbu residential and infrastructure projects last year amounted to about USD 8 billion. Total investments in the industrial city have reached USD 32 billion.
