Crown Prince Abdullah Bin Abdul-Aziz, the Deputy Premier and Commander of the National Guard on Saturday will inaugurate several mega projects at the Jubail Industrial City and lay the foundation stone of the Jubail Industrial City II.
According to the Royal Commission for Jubail, these mega projects include those of the Power and Water Utility Company for Jubail and Yanbu (Marafiq) and several affiliates of the Saudi Basic Industries Corporation (SABIC).
Total investment in these projects is estimated at more than SR224 billion [U.S. $59.7 billion], most of which will be generated by the private sector and foreign investors.
The expansion of the Jubail Industrial City, also called Jubail Industrial City II, is situated north of the Jubail Industrial City and will consist of 19 primary industries, in addition to several secondary and support industries which will mainly be owned by local and foreign investors.
The development of the new industrial city has been divided into four phases with the first phase expected to be operational by 2008. The entire project is expected to be completed by 2022.
The SABIC projects to be inaugurated by the crown prince include expansion of petrochemical and fertilizer, gas, and iron and steel plants. Several private sector industries will also be opened by Crown Prince Abdullah.
On Sunday, Crown Prince Abdullah will formally inaugurate Qatif Producing Plants marking the completion of 800,000 barrels per day development program. The plant will also provide 370 million cubic feet of associated gas. The onshore component of the project has the capacity to provide 500,000 bpd of Arabian light crude. According to Saudi Aramco, the offshore Abu-Safah field produces 300,000 bpd of Arabian medium grades crude oil.