Riyadh to host SR24m industrial zone

JEDDAH — A SR24-million industrial zone is to be set up in Riyadh in view of Saudi Arabia's booming construction industry by the Construction Products Holding Company (CPC) — a newly formed Saudi closed joint stock company.



By Habib Shaikh

Published: Wed 23 May 2007, 8:37 AM

Last updated: Sat 4 Apr 2015, 8:37 PM

It would house factories to produce a wide range of materials for the building industry.

Dr. Faysal Alaquil, director of CPC's business development, told a Press conference recently that the zone, which is being set up on a 200,000-square metres land on Al-Kharj Road, will be completed by the second half of this year.

"We have an initial capital of SR107 million and we are committed to pump another SR400 million to develop the project," Alaquil, who is also the secretary of the board of directors and official spokesperson of CPC, said.

He added that 39 per cent of the capital is owned by Bin Laden Group and the balance by individuals and some companies. A pre-cast factory and a steel factory are being built in the new complex that would start production on July 15.

He said that as a further manifestation of its commitment, CPC plans to transfer under one roof the group's existing construction-related factories. "We hope to cater to 45 to 65 per cent of the construction material market in the Kingdom," he said.


More news from Business