Yanbu Royal Commission and Skytower Investments Partner for Industrial Development
The Royal Commission of Yanbu and Skytower Investments Ltd. have signed an MoU to develop industrial projects in Yanbu, focusing on petrochemicals, renewable energy, and manufacturing. This agreement aligns with Saudi Vision 2030's goals to attract more investments. In addition, in August 2023, a MoU was signed to boost the southern region's tourism potential.
The Royal Commission of Yanbu and Skytower Investments Ltd. have signed a memorandum of understanding (MoU) to develop industrial projects in Yanbu, focusing on the petrochemicals sector, specialized chemicals, renewable energy, and other manufacturing divisions.
The agreement, signed by the commission’s CEO Abdul Hadi Al-Juhani, aligns with the goals of Saudi Vision 2030, aiming to attract more local and international investments to Yanbu Industrial City.
Headquartered in Riyadh, STI specializes in renewable technology and green power production.
In April, STI also joined forces with Chery Automobile Co., the Ministry of Investment, and the National Industrial Development Center to drive future economic opportunities in Saudi Arabia.
Additionally, in August 2023, Cruise Saudi and the Royal Commission for Jubail and Yanbu signed an MoU to boost the southern region's tourism potential.