Industry: Industry Region: Saudi Arabia Transaction Price: $1 million Transaction method: Equity investment
Overview of the park
The foundation stone of Jazan Economic City was officially laid on November 5, 2005, and it is the fourth economic city in Saudi Arabia, which falls within the scope of Saudi Arabia's plan to establish six economic cities in various places.
Development overview
Location advantages. Jazan Economic City is located on the main route of the Maritime Silk Road, 81 kilometers from Jazan City. The city of Jazan is the capital of Jazan Province in Saudi Arabia, located in the southeastern corner of the Arabian Peninsula, bordering Yemen to the south and the Red Sea to the west, and is one of the important sites on the Red Sea coast.
Construction body. On January 19, 2016, witnessed by President Xi Jinping and King Salman of Saudi Arabia, Yinchuan Yucheng Investment Co., Ltd. (Yinchuan Incubation), Guangzhou Development Zone Industrial Development Group Corporation (Guangzhou Development Zone Industrial Group) and Saudi Aramco Corporation (Saudi Aramco) signed a memorandum of cooperation, agreeing to form a joint venture between the three parties (in 2017, according to the request of the Saudi side, the Royal Commission of Jubail and Yanbu was added, with a total of four shareholders). The Shareholders' Agreement was officially signed in Jeddah, Saudi Arabia, marking that China-Saudi Arabia production capacity cooperation has officially entered the physical operation stage from the preliminary preparatory stage. At present, the shareholders of China and Saudi Arabia are accelerating the registration of the company.
Infrastructure. Jazan Economic City is currently being developed by Saudi Aramco and has invested 60% of its total investment in capital expenditures (approximately US$18 billion); 90 km of roads have been completed, and the overall road network has been completed in August 2018; Urban infrastructure and utilities including drinking water and fire water networks, waste water networks, storm water networks, irrigation networks, power generation and electricity networks were completed in August 2018; Supporting police stations, fire stations, medical emergency centres, security forces, etc. were also completed in August 2018; The Jazan Economic City port is under construction and will soon be put into operation; Town halls (public services, administration, external affairs, investor relations, data centers, control centers, engineering and technical services, etc.) are also being planned; Convenient transportation, the railway line will be extended to Jeddah, Riyadh and the Eastern Province.
Park planning. Jazan Economic City has a planned area of 106 square kilometers, two-thirds of which has been planned as an advanced industrial zone. The Jazan Economic City China Enterprise Special Development Zone is a strategic concept proposed by China to cooperate with Saudi Arabia to build Jazan Economic City, which includes 30 square kilometers of industrial zones and 2 square kilometers of living areas. Among them, the industrial zone is a conceptual area without fixed boundaries, according to the current overall plan of Jizan Economic City, the site selection of Chinese-funded enterprises is determined according to the introduction project, and the relevant preferential policies are enjoyed within the 30 square kilometers of land; The living area is planned and constructed by the Chinese side to provide supporting services for Chinese-funded enterprises.
Investment status. Among the projects that have been completed and basically completed are Aramco, power plants, ports and a 2 million tonne annual steel mill.