Global Economic Crisis generates adverse impact: Al-Sireisiri 2

Dr Al-Sireisiri said work is underway to implement the project of the
Two Holy Mosques (Al-Haramain) between Makkah, Jeddah and Madinah and
it is expected to be completed by 2012.

"Work is also underway to complete the project of building
containers at Jeddah Islamic port," he added.

Dr Al-Sireisiri said an amount of SR 12 billion has been allocated
for building new wharves at some ports and roads.

"The policy of the Saudi government emphasizes the importance of
enabling the private sector, either national or foreign, to
positively contribute to the economic activities".

Dr Al-Sireisiri pointed out that this financial crisis has not
affected the financing process of the projects of the infrastructure,
but it may have affected the style of financing.

"Instead of financing partially or entirely by the investors,
financing has become governmental financing, he said adding that this
does not mean any change in the Kingdom's policy towards the private
sector, and it is not more than practical measures based on economic
and financial studies.

--SPA