• Reuters

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Saudi Arabia launched on Sunday a new logistics zone open to private investors in the Red Sea port city of Jeddah, as part of a wider industrial initiative to diversify the economy away from oil and create jobs for Saudis.

The al Khomra zone — which will support activities around shipping, freight distribution and transport of goods — extends over 2.3 million sq. meters in Jeddah, home to one of the kingdom’s largest ports.

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