King Abdullah Economic City (KAEC), a special economic zone in Saudi Arabia, has leased a plot of land to Venezuela-based Golden Tuna, to build its first tuna production facility in Saudi Arabia.

Construction work on the project which will be located on a 35,906-sq-m parcel of land in Phase 3 of its Industrial Valley, and is scheduled to start later this year, with production set to begin by the beginning of 2018 for sales in the GCC, Saudi Arabian and Egyptian markets, said a statement from KAEC.

Golden Tuna is investing in KAEC’s Industrial Valley in order to boost its production capacity and expand into global markets, following the company’s dramatic growth in sales, production and manpower this year, it said.

Fahd Al-Rasheed, group CEO and managing director of KAEC, said: “The eagerness of national and international corporations to invest in KAEC is proof positive that we are well on our way to achieving our strategic objective of making the Industrial Valley the region’s manufacturing and logistics hub.”

“The economic city has a unique set of compelling advantages, including a world-class infrastructure, advanced public services, efficient logistics, social, commercial and industrial facilities, and a giant global seaport, all of which have made it the go-to place in which to invest, live and work. The city is fully equipped to become the dynamic centre of Saudi Arabia’s non-petroleum economy, which will put the kingdom in a position of power among the world’s 20 biggest economies. Our city actively succeeds in meeting the needs of all the industries we target,” he said.

 Dr Khaled Khalil, general manager of Golden Tuna, said: “The company’s decision to invest in KAEC’s Industrial Valley is part of our plans to expand into global markets and increase our investments in the GCC and Egypt.”

“Our decision to manufacture at the Industrial Valley came after we explored all possible investment opportunities and studied KAEC’s existing achievements, after which we concluded that the city is the best possible place to take our national and international investments, given its capability to be an engine of change in the Saudi economy and the many facilities the government provides to accelerate growth,” he added.

A comprehensive range of housing solutions, such as the Village project, provide an ideal residential environment for workers and supervisors, said the statement.

Rayan Qutub, CEO of the Industrial Valley, stated that the completion and opening of Phase 3 to investors was a breakthrough that has helped bring about many new achievements, underscored by its popularity with national and international investors and corporations, due to the wide range of services and advantages that facilitate the ease of establishing commercial and industrial operations in KAEC.

Qutub also noted that King Abdulla Port will play a major role in Golden Tuna’s growth in exports, and expand the company’s reach to more than 620 million consumers in Red Sea region, it added. – TradeArabia News Service