(#1)
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Chief News Editor
  
Posts: 5,630
Join Date: May 2005
Location: OB, SOCAL
Reputation Power: 387
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Saudi to build 26-billion-dollar new city -
December 20th, 2005, 03:38 PM
Oil-rich Saudi Arabia unveiled a 26.6-billion-dollar project to build a state-of-the art residential and industrial city, timed with its new membership to the World Trade Organisation. King Abdullah Economic City will be located near the western industrial city of Rabegh on the Red Sea coast, north of the kingdom's second largest city, Jeddah.
An Emaar-led consortium made up of Saudi and Emirati companies, including the Saudi Bin Laden construction company, will be the main investor in the development. The Saudi Arabian General Investment Authority (SAGIA), which is in charge of attracting foreign investment to the kingdom, will be project coordinator. "In what is considered the single largest private sector investment in Saudi Arabia, the announcement ... is a signal of the dawn of a new era of economic prosperity for the citizens of the kingdom," Emaar said on Tuesday.  READ ARTICLE [SIGPIC][/SIGPIC] |
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(#2)
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I wish u were Beer
Posts: 1,122
Join Date: May 2003
Location: In the Heart of the Evil Empire
Reputation Power: 136
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December 20th, 2005, 05:57 PM
I always wondered how they spent our money.
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(#3)
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Hurt no more my son.
Posts: 8,056
Join Date: Dec 2002
Location: An angel in Heaven and on Earth
Age: 34
Reputation Power: 583
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December 20th, 2005, 07:59 PM
So basically the USA built this city or will with our money.
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