Foundation Stone Laid for SANAM Passenger Cars’ Assembly Factory, in Jubail

CEO of the Royal Commission in Jubail, Dr. Ahmed Al Hussein, laid the foundation stone for the SANAM factory for assembling passenger cars, which is the 1st of its kind, in the Kingdom, hosted by Jubail Industrial City.

The Royal Commission in Jubail supports the localization of such industries that have a high return on the national economy and through which contributing to achieving the goals of the Kingdom’s Vision 2030, would be realized, he added.

Today is the beginning of the 1st step for the first phase, which will be an assembly phase with a license from the technical partner for two types of passenger cars, with local content of up to 15%, CEO of SANAM Dr. Al-Duhaish stated.

In the second phase, the localization of the parts from Jubail Industrial City will be the main objective, which will range from 30% to 40%, and at the start of the project, 50% of the jobs will be localized as a first stage, he pointed out, indicating that the value of the 1st phase of the project is SR300 million.

We are working to transfer experience to the SANAM company, technical president of SsangYong company Chang Won Kim, said, for his part.

The foundation stone laying ceremony also witnessed the signing of several investment agreements.