DOHA: Saudi Arabia is inviting investment from Qatar and other GCC countries to an industrial city it is constructing on the Saudi side of the Salwa area, about 50km from the Qatar-Saudi border.
A delegation from the Saudi Industrial City Authority met with Mohammed bin Tawar Al Kuwari, vice chairman of the Qatar Chamber at the QC headquarters on Saturday.
The discussions focused on the opportunities for Qatari companies to take part in the project. The Saudi delegation presented the plans for the Salwa Industrial City announced last year.
The Qatar Chamber asked the Saudi delegation to set up another meeting for Qatari companies interested in investing in the project.
The project is open for all GCC and foreign investors. Saudi Arabia is ready to provide the necessary logistics and fund 70 percent of the project, said a QC statement yesterday.
Al Kuwari said QC wanted small and medium industries in the proposed city for food, spare parts, petrochemicals, and other sectors required by the GCC citizens. One of the challenges for local investors is that no plan has been set until now for providing the Industrial City with gas and energy.
However, it is a important project due to its strategic location, close to the Qatari-Saudi border that can link many GCC countries. The city will be connected with the Saudi rail network, said Al Kuwari.
QC invited the Saudi delegation to participate in the Made in Qatar Exhibition being held in January next year and present the project for potential Qatari
investors.
The Peninsula
