Saudi Arabia`s King Salman will inaugurate the Waad Al-Shamaal mining project on Thursday, Alarabiya TV said on Twitter, quoting energy minister Khalid al-Falih.
The project will cost 85 billion riyals ($22.7 billion) and will create 10,000 jobs, according to Falih. It is part of an industrial scheme aimed at opening up Saudi`s north to development that will boost job creation.
Saudi authorities estimate the region holds 500 million tonnes of phosphate ore, around 7 percent of global proven reserves, mainly in the Al Jalamid and Umm Wu`al areas between Arar and Turaif.
Falih also said that Crown Prince Mohammed bin Salman would participate in a G20 summit in Argentina at the end of the month. Prince Mohammed will head to the gathering as part of a foreign trip, Al Arabiya reported Falih as saying.
The kingdom is facing a global outcry over the murder of prominent Saudi journalist Jamal Khashoggi at the country`s Istanbul consulate in early October, which has strained its ties with the West.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)