Jazan attracts US$6.7b so far
04/11/2008 - The Edge Financial Daily
RIYADH: Saudi Arabia's Jazan Economic City has attracted 25 billion riyals (US$6.7 billion or RM23.59 billion) of investment so far, state media said yesterday.
Construction of the city in Saudi Arabia s impoverished south will begin
this month as the world's largest oil exporter tries to spread its wealth and promote development.
Its developers, MMC Corp and the Saudi Binladin Group, agreed last year to build an aluminium smelter with Aluminium Corp of China at a cost of US$3 billion. The smelter will be built between 2009 and 2013, the Saudi Press Agency said. - Reuters
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