1999 News Story

Report on Industrial Sector

Thanks to the Kingdom's wise policy of diversification of its sources of income, there are now 3,152 factories with a total invested capital of more than SR 230 billion (U.S.$ 61.3 billion), up from only 207 in 1970. Exports from Saudi Basic Industries Corporation (SABIC) now exceed SR 27 billion (U.S. $ 7.2 billion). The most important of these industries are foodstuffs, petrochemicals and plastics, construction materials, and electronics.