Automotive
Toyota Motor Corp and Industrial Clusters (MOU)

Toyota Motor Corp signed a memorandum of understanding (MOU) on March 14th, 2017 with National Industrial Cluster Development Program (NICDP), a Saudi Government Program under Ministry of Energy, Industry and Mineral Resources to conduct a feasibility study into establishment of a manufacturing plant producing vehicles and parts in the Kingdom.

The study would take into account the evaluation of development of a local supply base using materials produced by major Saudi companies like Sabic, Maaden, Petro Rabigh, and other major industrial companies in the Kingdom.

The Toyota project  would be a big step for the Saudi economy and will create a significant number of high technological jobs and will diversify industrial base beyond oil exports as part of the kingdom's 2030 Vision.