RIYADH: Saudi Arabia’s Royal Commission for Jubail and Yanbu has concluded a conditional investment agreement with Kingdom Tyres to build a SR4 billion ($1 billion) factory.

The facility will be built on an area of 50 hectares, according to a tweet on RCJY’s official account. 

It is also expected to provide 1200 job opportunities for Saudis trained at the High Institute for Elastomer Industries in Yanbi.