Saudi Arabia issues record 91 new industrial licenses in February

RIYADH: Saudi Ministry of Industry and Mineral Resources issued a record 91 new industrial licenses in February, a year-over-year increase of 21 percent, SPA reported.
The biggest award of new licences was to 21 food production factories, followed by 15 other factories, data from the National Center for Industrial Information showed. The 91 companies awarded the licences had capital of SR857 million ($229 million).
Production started at 31 factories during February, 93 percent of which were Saudi owned, the report said. Small factories accounted for about 52 percent of the new starts, most of which were in Riyadh.
The industrial sector hired 1,205 Saudis in February and 2,304 expatriates, the report said.
Saudi Arabia was home to 9,853 industrial establishments worth SR1.115 trillion at the end of February.