(ArabianOilAndGas) -- The Saudi Arabian Basic Industries Corporation (SABIC) and the Saudi Industrial Property Authority (MODON) signed a three-way agreement with the Boston Consulting Group (BCG) in Riyadh aimed at developing industrialisation strategies for the Saudi cities of Al-Jouf, Tabuk, Hail, Jizan, Najran and Arar.
The agreement under which SABIC will be the sole sponsor was signed by Mohamed Al-Mady, SABIC vice chairman and chief executive officer; Dr. Tawfig Alrabiah, director general of MODON and Thomas Bradtke, partner and managing director, BCG.
Commenting on the agreement, Al-Mady said that SABIC is supporting this study to contribute to the development of the industrial sector in Saudi Arabia.
The first phase of the study is expected to be completed within 12 weeks. It will incorporate the findings of previous studies, develop a clear understanding of the market potential, examine the attributes of each of the subject cities, identify the most appropriate industries (or combinations of industries), examine the key enablers and develop value propositions for each of the cities for investment attraction.