The Royal Commission for Jubail and Yanbu (RCJY) signed investment and construction agreements worth over $266 million with several investors in Jazan City.
The city concluded the agreements in the presence of chairman Khalid al-Salem who confirmed that the new contracts contribute to achieving the city's goals.
Salem explained that the new deals provided an infrastructure attracting investments in the food and mining manufacturing industries, establishing a vibrant community, increasing GDP output, creating new direct and indirect jobs, and boosting self-sufficiency in the targeted sectors.
CEO of Jazan City for Basic and Transformational Industries Fahd al-Qurashi signed the agreements, which would create more than 300 direct and indirect jobs.
The investment agreements were signed with several companies, including Public Investment Fund-owned Saudi Coffee Company, to develop and build a coffee processing factory using the latest technology.
RCJY signed an agreement worth $80 million with United Feed Co. to build a grain and animal feed factory.
The Royal Commission pumped nearly $109 million, including construction contracts and the development of the city's infrastructure, following top standards.
The city also signed two investment agreements with Namariq Arabian Services to develop a residential complex accommodating 7,000 people and an investment exceeding $38.6 million. They signed a deal to build 320 housing units for families at an investment of over $38 million on an area of 250,000 square meters for the two projects.
The importance of investment contracts and agreements stems from boosting investment and infrastructure development, which contributes to supporting the national economy, empowering the private sector, diversifying sources of income, expanding the production base, and creating sustainable job opportunities in the region.
