Riyadh: For the first time in the kingdom, the Saudi government has decided to manufacture vehicles locally, under which a factory has been set up.
In this regard, the company to be established in the industrial city of Jubail, Saudi Arabia, will produce vehicles for the first time in the history of the kingdom.
Dr. Ahmed Al Hussein, Executive Chairman of the Jubail Royal Commission, has laid the foundation stone of the first car assembly factory in Jubail.
According to Al-Arabiya Channel, the executive chairman of the Saudi national company “Sanam”, Dr. Fahd Al-Dahish said that the factory is being developed in accordance with the program set for Saudi Vision 2030.
Under the vision, various industries will be established in the country. For the first time in the history of the country, a car assembling factory is being set up.
He said that the factory will assemble the first vehicle in the second half of 2023, initially starting with five to ten thousand vehicles. Gradually their number will be increased to 30,000.
Dr. Fahad Al-Dhish said that 700 jobs would be created directly in the first phase of the factory and 3,000 people would be employed indirectly outside the factory.
He said that in the first phase, the proportion of domestic raw material would be 10% which would be increased to 30% in the coming years.
Sanam’s executive chairman said the factory was being set up in partnership with Korean company Seng Yong.
In the second phase, there is a program to produce more than 50% of the raw materials from within the country so that Saudi-made vehicles can be manufactured in the country.
He said the company would manufacture two types of vehicles, small trucks with double cabins and seven-seater family vehicles.
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