3M breaks ground on manufacturing facility in KSA
Spread over 50,000sqm, 3M's manufacturing facility in Dammam will be built in three phases over a span of five years
Global science-based company 3M on Monday announced the start of construction of manufacturing facility in Dammam, Saudi Arabia; its largest in the Middle East and Africa region.
The announcement was made during the ground breaking ceremony held in the Dammam 3rd Industrial City.
"3M has plans to continue increasing our localization effort in Saudi Arabia," H C Shin, 3M executive vice president for international operations, said.
"As a global leader in developing innovative solutions, our goal is to play an important role in the Kingdom's effort to diversify its economy through knowledge and technology transfer. We will work closely with the Saudi government to enhance our manufacturing investment plans, invest in specialised research and development centers, and create high-value, technically sophisticated jobs," Shin said.
Spread over 50,000sqm, 3M's manufacturing facility in Dammam will be built in three phases over a span of five years. By 2020, 3M aims to manufacture locally products related to air quality, identity management, oil and gas, corrosion protection as well as products related to infrastructure and healthcare markets.
Initially covering the needs of the Saudi local market, 3M manufacturing facility will be developed to become a regional source of supply for other countries in the Middle East, Europe and Africa.
With almost one-fifth of the world's proven oil reserves, Kingdom is heavily dependent on its oil revenues. To diversify its economy and provide sophisticated employment opportunities to more Saudi nationals, the Kingdom is encouraging the growth of the private sector and foreign investment, especially in the vital sectors such as infrastructure, oil and gas, construction and healthcare.