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RIYADH: Saudi Arabia’s manufacturing capability is predicted to spice up with China’s Baoshan Iron and Metal Co. saying its plans to speculate SR15 billion ($4 billion) on a venture in Ras Al-Khair’s new financial zone.
The Shanghai-based firm, one of many world’s largest steelmakers, will manufacture steel plates within the zone, it introduced at an occasion in Riyadh on Monday.
The funding is a part of the Kingdom’s industrial outreach initiative to incentivize companies to function in its particular financial zones.
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