Ras al-Khair (located at the eastern frontiers of the Saudi Kingdom) plans for constructing a ship repair and shipbuilding complex at an estimated cost of over 20 billion riyals, construction is intended to start in 2018 and commercial operations by 2022. Saudi Aramco will be leading the project, providing engineering, manufacturing and repair services for offshore rigs and commercial vessels. The project may face heavy competition from existing shipbuilding centres in South Korea and elsewhere, but Aramco estimates that it will create 80,000 jobs (directly and indirectly) while allows the Kingdom to reduce its imports by $12 billion annually.
Saudi Arabia’s King Salman  inaugurated on Tuesday a $35 billion mining and minerals processing complex at Ras al-Khair on Saudi Arabia’s eastern coast. The complex reflects KSA’s persistent efforts in developing large and diversified industrial projects. The Projects include a $5.6 billion phosphate complex which produces fertilisers and chemicals, operated by Saudi Arabian Mining Co (Ma’aden) in partnership with petrochemical giant Saudi Basic Industries Corp (SABIC). A $10.8 billion aluminium facility operated by Ma’aden and U.S. firm Alcoa, while the complex also features a 1,400 kilometer railway link, a port, and desalination and power plants. Economic reform plans continue to flourish in the Kingdom with the aim of expanding its mining sector’s contribution to gross domestic product to 240 billion riyals by 2030 from 64 billion riyals at present. Ras al-Khair is expected to be KSA’s main mining industry hub.
