Including mining, energy and logistics.. Salman sets a cornerstone of “the promise of the north”costing SR 85   

Ashraf Abo Arafe

The Custodian of the Two Holy Mosques King Salman Bin Abdul Aziz will lay the foundation stone for the project of the Promise of the North at a cost of SR 85 bln. The project includes mining, energy and logistics.

Khalid Al-Falih, Saudi Minister of Energy, Industry and Mineral Resources said that the North Promise Project is an unprecedented development project. The challenge of the project is similar to the challenge of extracting oil 90 years ago.

Al Falih talked about the projects that will be launched and laid the groundwork this week, including the largest solar skaka project in the world, in partnership between the Public Investment Fund and Softbank.

Al-Falih said the giant company would be the world’s largest in terms of its capacity to develop solar projects with a capacity of 200 GW.

He pointed out that the objective of establishing the company between the Public Investment Fund and Softbank is “industry”, stressing that the development of the industrial sector is of great interest will provide the private sector a great opportunity in this field.

He pointed out that the Saudi Aqua Power Company won the Sakaka solar project, adding that the field would be open to national companies in the field of solar energy in Saudi Arabia.