Naimi noted that this special privilege will contribute to the reduction of the producing costs of these industries and they will surpass in competition world mining industries. He pointed out that raw materials will be transported from their places in the north and center of the Kingdom to the city by railway that will be established by General Investment Fund. He indicated that the Kingdom has unique geological characteristics and it has various valuable minerals such as gold, silver and major minerals such as cooper and zinc. The City's production will start at the beginning of 2009, the Minister said and added that total investment in the first phase amounts to more than SR 20 billion and after the completion of the first stage of the project, it will provide 16,000 direct or indirect jobs. The Minister of Petroleum and Mineral Resources stressed that the Kingdom's accession to the World Trade Organization will attract more investment in the Kingdom including investment in mining industry and it will open wider horizons for the mining industries in the world markets. The Minister said that the Board held a meeting in Jubail Governorate today. The meeting reviewed the Company's plans and programs.
