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Posted Mon 23 Jul 2012 05:24:54 pm in News, Business | By News Desk

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King Abdullah Economic City, July 22nd 2012: King Abdullah Economic City has announced that it has signed an agreement with Olayan Financing Company, the leading company in the field of project development in the Middle East, for the latter to purchase four plots of land totaling 600,000 sqm in Phase 2 of the Industrial Valley.


The investment deal was the results of the city's continued economic efforts to attract major local and global companies and factories, and Olayan foreseeing the promising opportunities provided by the KAEC, coupled with the company’s objective to enhance its industrial leadership in the local market by partnering with distinctive brands name like Coca-Cola, Colgate Palmolive, Kraft, Toshiba, Kimberley Clarks, Excel logistics, and Baxter, and many others.


On this occasion, Mr. Abdulrahman Al Binali, Vice President of Olayan Financing Company, said: "We are delighted to be present in the Industrial Valley at KAEC, which registered a strong mark that is able to compete with commerce, industry and international investment. There is no doubt that our involvement came naturally by being fully aware of the significant role that the economic city has to offer to the national economy, and the pride it would bring to the Kingdom in the region and the world within a few years. We have chosen to exist in KAEC due to the availability of high standards facilities and services that we need to fulfill our operations.


“In addition to its distinctive seaport, KAEC enjoys an ideal location that centers the region's and the world’s markets, as well as many facilities that will support our business, especially the presence of Al Haramain Railway Station, and the world-class infrastructure.” Al Binali added on.


Adding his remarks, Mr. Fahd bin Abdulmohsen Al-Rasheed, Managing Director and CEO of KAEC, expressed his pleasure at Olayan joining the list of major companies investing in KAEC since it is one of the Saudi Arabia’s biggest Groups with a long history of highly successful partnerships with world renowned companies and brands.

Al-Rasheed revealed that: "There are numerous advantages for local and global major companies which creates a unique atmosphere for investments. These include clear and business-encouraging regulations and processes, ease of issuing permits and licenses and the possibility of providing qualified manpower through training centers for Saudi talents. The availability of housing solutions within the vicinity of the Industrial Valley and the direct link with King Abdullah Economic City seaport makes the Industrial Valley a global logistical hub and an access point to reach about 250 million consumers in the Middle East and North Africa, not to mention the availability of Haramain Railway station in KAEC and the future land bridge”.


Mr. Ahmed Linjawy, President of the Industrial and City Services Division in KAEC, stated that: “KAEC was successful in leasing Phase 1 of the Industrial Valley and launching Phase 2. Lands with an infrastructure of integrated services, has been leased and sold out to local and international companies, and will be the home of numerous industrial complexes that specializes in manufacturing medicine, plastics, construction material, food, and consuming products.”

Olayan Financing Company joins a list of major companies that are located in the Industrial Valley such as Pfizer, Sanofi Aventis, Mars, Greif, TOTAL, Al Rajhi for Heavy Industry, Tamer Pharmaceutical, Saudia Catering, and others to name a few.

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