Saudi Arabia, through the King Abdullah Economic City, continues its efforts to diversify and expand its economy. Saudi Gazette reports (here in a piece from Al Arabiya TV) that it has signed agreements with Volvo and Renault to build trucks at KAEC, located north of Jeddah.
Saudi Arabia to produce Volvo and Renault trucks
King Abdullah Economic City (KAEC) recently signed a land plot to purchase of 225,000 sq. meters in KAEC’s Industrial Valley for the construction and operation of Volvo and Renault trucks.
The plant, constructed by Zahid Tractor and Heavy Machinery Company, will be developed on an area of 60,000 sqm and is expected to produce 4,000 trucks a year and provide 400 new jobs.
Fahd Al-Rasheed, Managing Director and CEO of KAEC, said “the new trucks assembly plant, which will be constructed by Zahid Group, is considered a major milestone in the growth of King Abdullah Economic City.”