Riyadh  - Saudi King Abdullah bin Abdul-Aziz launched Wednesday a number of investment projects with total value of 130 billion Saudi Rials (34.5 billion dollars), including the building of one of the largest ports in the world.

The port is to be built in King Abdullah Economic City in Rabigh, the multi-billion dollar project launched in 2005. The project, spread over 168 million square meters, aims to create more than 1 million jobs by 2020 in a city that will be home to two million people.

In addition to the port project, funds were approved for public utilities ventures, transport industry, an education zone, a huge media production city and an environment protection centre, the Saudi Press Agency (SPA) reported. (dpa)