Saudi Arabia has identified nearly 814 feasible industrial projects with a combined value of nearly 979 billion Saudi riyals ($262 billion) that will be offered to the private sector, the Gulf  Kingdom’s Industry and Mineral Resources Minister has said.

Bandar Al-Khorayef told an industry seminar in Riyadh on Monday that the project would be offered to investors gradually until the year 2035.

“We urge industry investors to utilise these massive manufacturing investment opportunities which are considered safe and feasible,” the Minister said in an address published by Sharqalawsat and other Saudi dailies on Tuesday.

He said the projects are part of the Ministry’s “industrial strategy” which aims to expand the non-oil manufacturing sector and boost its contribution to the country’s gross domestic product by around SAR 890 billion ($237 billion) to SAR 1.414 trillion ($378 billion) by 2035.