State oil giant Saudi Aramco has won approval from the government to set up two new companies that will develop and operate a new energy industrial city in the kingdom, said a report.
The Aramco move comes as the kingdom seeks to expand its industrial base, according to Reuters.
The new industrial city will be developed over 50 sq km of land in the oil-producing region, said the report citing a SPA statement.
An earlier report said the city will be close to Abqaiq and will develop energy-related industries, it stated.
Aramco will also set up another company to handle operations and maintenance of the city, the report added.
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