King Abdullah, Custodian of the Two Holy Mosques, patronized at King Abdullah Economic City (KAEC) here Wednesday the foundation stone-laying ceremony for investment projects worth more than SR130 billion. These are infrastructure, services and utility projects, which include the King Abdullah Economic City Port, SAGIA building, Smart Services Center, Saudi Mall and Hotel, Ritz Carlton Hotel, International Conferences Center, Al-Bilsan Hotel and Mall, Holiday Inn Expresso Hotel at a total cost of SR79 billion. The King also launched the industrial and logistic services projects, including integrated industries city, Emal aluminum smelter, plastic industries, Total lubricant oil factory at a total cost of SR32 billion. Foundation stones were also laid for knowledge industries projects that include the infrastructure for the smart city, medical care city, media production city, life sciences research complex, environmental protection center at King Abdullah Economic City at a total cost of SR24 billion. Prince Mishal Bin Abdul Aziz, Chairman of the Allegiance Commission; Crown Prince Sultan Bin Abdul Aziz, Deputy Premier, Defense and Aviation Minister and Inspector General; princes and senior officials attended the ground-breaking ceremony. Saudi Arabian General Investment Authority (SAGIA) Governor Amr Abdullah Al-Dabbagh said KAEC is one of the fruits of the King's futuristic vision. This is part of the King's aim to develop all regions of the Kingdom and to activate the role of the local and foreign private sector companies in the overall development of the country. The private sector is bearing the cost to build the economic cities in various regions of the Kingdom, he said. Thanks to the King's initiative, today we are witnessing inauguration of projects in Rabigh, next will be Madina, followed by Jizan and Hail, Al-Dabbagh said. The Rabigh projects focus on an integrated system of educational and training institutes of international repute. The King has stressed on the protection of ecology and nature, he said. Comprehensive environmental studies have been conducted to improve public health and protect natural habitat and maintain viable population of species in natural surroundings, he added. The King also laid the foundation stone for Environmental Protection Center. KAEC has attracted quality investments exceeding SR100 billion to form a nucleus of factories and export centers. It will be the largest private sector development in the region. It is being developed by Dubai developer Emaar in association with SAGIA. Work has been under way at the first of Saudi Arabia's six new economic cities at Rabigh, Madina, Hail, Tabuk, Jizan, Ras Al-Zour designed to accelerate major regional development. The projects are supervised by SAGIA along with Emaar. __
