Saudi Mining City Infrastructure to Cost $1.2 Billion, SPA Says

Feb. 21 (Bloomberg) -- The Saudi government plans to spend 4.5 billion riyals ($1.2 billion) to develop infrastructure, power and railway links for the 440-square-kilometer (170-square-mile) Mining City of the North, the Saudi Press Agency reported, citing Oil Minister Ali al-Naimi.

The industrial zone includes a phosphate project for Saudi Arabian Mining Co. that may attract 21 billion riyals in investment, the news service said.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net