×
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Saudi Arabia to build world's largest gold factory

Last Updated 03 May 2018, 05:20 IST

The 22,000-square metre factory, located in the kingdom's Red Sea port city of Jeddah, will bring in between 500 to 800 jobs. "The factory will become a reality by the end of this year," Essam Al-Shrafi, chief executive officer of Taiba for Gold and Jewels company, told the Arab News daily.

The company has 25 years' experience in gold sales, Xinhua reported, adding that Saudi Arabia is one of the top holders of gold reserves in the Middle East. The World Gold Council, a non-profit body that tracks gold holdings across the globe, recently said Saudi Arabia has doubled its gold reserves to 323 tonnes.

ADVERTISEMENT
(Published 05 January 2011, 05:23 IST)

Follow us on

ADVERTISEMENT
ADVERTISEMENT