SAGIA and Pfizer sign accord for pharmaceutical plant in Rabigh
October 7, 2011
The Saudi Arabian General Investment Authority (SAGIA) signed an agreement with Pfizer World Company in Riyadh on Monday to establish a pharmaceutical plant at the King Abdullah Economic City (KAEC) in Rabigh. It will be the company’s first such facility in the Middle East. According to the plans, the facility will be built on an area of 65,000 square meters and will employ as many as 200 workers. Construction will begin in 2015. Officials hope that the plant will help transfer pharmaceutical manufacturing skills to the local markets.
The signing ceremony was attended by SAGIA Vice President for Investment Affairs and President of the National Competitiveness Center Prince Saud bin Khalid Al-Faisal and U.S. Ambassador to the Kingdom James B. Smith.