The armor and artillery being moved by Saudi Arabia could be used for offensive or defensive purposes, two U.S. government sources said.
The city, designed to increase female employment opportunities in the Kingdom, will span five million square metres.
The plant, located in the Ma’aden complex at Ras Al Khair city, was shut down on March 23 “for a period of around 10 days”, the company said.
The Kingdom has priortised job creation among its local population to drive economic growth and improve economic diversification.
The cabinet’s decision aims to push out more land out into the market where it can be developed.
The company said that the shutdown at the facility in Ras Al Khair would last for around 10 days.
The Kingdom is now pumping around 10 million barrels per day – near an all-time high as it looks to grab a bigger share of the oil market.
Each institutional fund will now belong to a ministry or other body related to its function, and be chaired by the minister.
Much urban land in the kingdom is owned by wealthy individuals or companies who prefer holding it as a store of value, or trading it for speculative profits.
Full operational capacity at the two plants would be achieved in 8-10 days.
Foreign minister Prince Saud al Faisal repeated an invitation to all Yemen’s rival factions, including the Houthis, to attend peace talks in the kingdom.
Saudi Oil Minister Ali al-Naimi asserted on Sunday that the Kingdom will not curb output to prop up prices.
Arabtec’s board has approved disposing of Arabtec Saudi Arabia, Arabtec Construction Machinery, Saudi Austrian Arabian Ready Mix Co and EFECO Saudi.
Iraqi PM Haidar al-Abadi’s office gave no details about the invitation or when the possible visit would take place.
Ali al-Naimi also said that OPEC will not take sole responsibility for propping up the oil price.
The joint venture firm’s first project in Saudi Arabia will be an 11 million square metres project called Riyadh Investment Park.
Consular operations in Saudi Arabia were first suspended last week over heightened security concerns.
Saudi Arabia recalled its ambassador to Stockholm earlier this month, after Sweden ended a long-standing defense cooperation agreement with the Kingdom.
Mohammed al-Madi said that the current price drop was because of fundamental supply and demand factors, not any non-economic policies.
The Kingdom has been ramping up the number of machines drilling for oil and gas.
Savola reduced its projection to SAR178 million before capital gain from its previous forecast of SAR360 million.
Tariq al-Mutairi, head of the liberal Civil Democratic Movement was detained on his way home early on Wednesday.
Currently no visa or consular services are being provided in Riyadh, Jeddah or Dhahran.
Production was steady in January at 9.680 million bpd from 9.630 million bpd in December.
Dubai’s index fell 3.6 per cent by Wednesday’s close to a 10-week low of 3,408 points.
Takween in December agreed to buy the packaging unit of Savola, the region’s largest food firm for SAR910 million.
The total cost of the project, known as Rabigh Phase II, is now estimated at SAR30 billion.
Brent crude oil fell to around $54 a barrel on Monday, its lowest for more than a month.
The conglomerate plans to boost its existing manufacturing facilities and improve R&D in the kingdom.
Saudi Arabia sees Iran as its main regional rival and fears that an atomic deal would leave the door open to Tehran gaining a nuclear weapon.