RCJY joins Nusaned strategic partnership to enable industrial investment
Purpose of Support:
- This agreement aims at achieving cooperation between the two parties in supporting industrial projects in KSA, in particular the opportunities listed under SABIC’s National Initiative "Nusaned™" and the current targeted projects according to RCJY records in support of the agenda to promote local content in KSA.
- (If the project is listed with RCJY and corresponds to SABIC’s values), coordination may be made with RCJY to include the project in Nusaned™ initiative in order to allow for submission of the necessary studies for guidance to increase productivity and improve operational work and to discuss ways to support the existing project in light of the economic changes in industrial environment that may hinder development of the national manufacturer.
- If the project passes Nusaned™ initiative tests, work will be underway with RCJY to submit a “guarantee and comfort letter” to enable support of investment with other entities.
- There may be coordination with RCJY to request Nusaned™ support through RCJY to allow supporting of projects that you wish to expand after identifying the added value of project.
- RCJY can recommend supporting projects that add value to national economy (high potential) to obtain equity financing opportunities through (Nusaned Investment Company) for priority industries for SABIC, RCJY and KSA.
Small and medium-sized startup enterprises and projects with high added value according to RCJY classification may have one or more of the following incentives:
- Fixed rental value for square meter for the first five years after which the square meter price is reconsidered according to RCJY regulations.
- RCJY may be requested to recommend investment opportunities for recycling factories waste in Jubail and Yanbu, to enable Nusaned to support creation of new industries by providing all means of support for the feasibility of different recycling projects and making necessary recommendations to support the project.
- RCJY may be requested to recommend that its factories’ leaders receive various qualification programs free of charge.
- Grace period (without rent) for one year during the term of (conditional investment agreement).