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“THE SAUDI GOVERNMENT RECOGNISES OIL IS A FINITE RESOURCE AND IS ENCOURAGING ECONOMIC DIVERSIFICATION AS WELL AS LOOKING CLOSELY AT RENEWABLES, INCLUDING SOLAR, WIND AND NUCLEAR POWER”
There are signifi cant opportunities in other areas too, such as healthcare, education, tourism, mass transport and construction, in all of which the UK has the advantage of specifi c expertise. David Lloyd, senior consultant at the Middle East Association, says: “The Saudi government recognises oil is a fi nite resource and is encouraging economic diversifi cation as well as looking closely at renewables, including solar, wind and nuclear power. “Diversifi cation is led by petrochemicals and mining, the latter already a success story and predicted conservatively to account for 18 per cent of GDP by 2020. The extraction of bauxite and phosphates from Al Jalamid mine in central northern Saudi Arabia is well known, but there are also major opportunities in the mining of base metals – copper, zinc and lead.”
BEYOND CITY LIMITS Six new cities are being planned and built in a £84bn programme that offers vast opportunities for UK companies. In total, there will be 4,400 new schools, fi ve airports and 3,000km of rail track. Phase one is well underway at the knowledge economic city in Medina, but there are still openings in construction, healthcare, education and light rail. The King Abdullah Economic City on the Red Sea will be as large as Hong Kong and offers even greater opportunities. Domestic tourism is another growth
area. The number of pilgrims to Mecca and Medina, home to the prophet Muhammad, is expected to rise from 12 to 17 million by 2025. New resorts and marinas are springing up along the Red
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