Aventis has signed an agreement with Emaar Economic City to establish their manufacturing facility at the Industrial Valley. The plant, which is to be built on a 35,000 square meter land, will initially produce oral anti-diabetic and cardiovascular products. Saudi TOTAL Lubricants Company Ltd. has reached an agreement to establish a Lubricants manufacturing facility. Speaking about progress of work at Jazan Economic City (JEC), Al-Dabbagh said an iron and steel factory will be established in JEC at a cost of SR1.5 billion. “About 30 percent of the project has been completed and the plant is expected to start production in the third quarter of 2011,” he said. Saudi Aramco has been entrusted with the task of building and financing the $10-billion refinery at JEC. The refinery will have a capacity of 250,000 to 400,000 barrels per day. Malaysian company MMC is building the city with Saudi Binladin Group. --MORE
