Fourth economic city unveiled at Jizan
A joint venture of the local Saudi Binladin Group (SBG) and Malaysia's MMC Corporation has been awarded a licence to develop a $30,000 new economic city at Jizan on the Red Sea coast - the kingdom's fourth economic city. The two companies will establish a 50:50 joint venture to develop and manage Jizan Economic City (JEC) over 30 years.
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