Saudi Arabia has revealed plans to set up an “Energy City” with state-of-the-art infrastructure as part of Saudi Vision 2030, a senior official has said.
Khalid Al-Falih, minister of energy, industry and mineral resources said that the aim of the new project is to attract major companies in energy-related industries to the city.
He also said that it will aim to raise local inputs in energy and petrochemical industries to 75 per cent, according to Saudi’s Arab News.
The kingdom plans to double its gas production from the recent discoveries in conventional and shale gas field, Al-Falih added.
The new initiative comes off the back of the new Saudi 2030 vision which is a blueprint for the kingdom’s long-term goals and expectations in the quest to diversify the economy.
Several other projects were announced including the construction of the King Abdullah Port and a new citizen programme.
