In a significant display of industrial expansion, Saudi Arabia’s industrial cities have seen an influx of nearly 95 billion Saudi riyals (approximately $25 billion) in investments for metal manufacturing enterprises in the year 2023. This boost represents an increase in the sector by about 4.3 percent compared to the previous year.
The Saudi Authority for Industrial Cities and Technology Zones (Modon) revealed these figures at a prominent international mining conference held in Riyadh. The report highlighted the distribution of these investments across 1,629 metal industry facilities throughout the country.
Jeddah, a major port city on the Red Sea, took the lead with investments in 482 industrial units. This was closely followed by the Eastern port city of Dammam, which housed 391 units, and the Saudi capital, Riyadh, where 199 plants were established.
These statistics not only reflect the growing economic development within Saudi Arabia’s industrial sector but also underscore the nation’s commitment to diversifying its economy and bolstering its manufacturing capabilities.