The top oil exporter Saudi Arabia is having idea to host largest gold factory of the world. The largest gold factory which will be the first of the world will start by the end of the 2011 year says the related reports. The details of world’s largest gold factory was given by Arab News and was reported on January 4 and further details available. By the end of the present year the the largest gold factory will be a reality in Saudi Arabia and attract many people around the world.

The details about the gold factory was said by CEO of Taiba for Gold and Jewels company which told it to the daily News. The gold factory is situated in the city of Jeddah and will be sponsor about 500 to 800 jobs stated Taiba and workers around Saudi Arabia. The gold factory will be occupied about about 22,000-sq.m plant and is ready for construction at present. The project of gold factory is the companies brainchild and has about 25 years of experience in gold sales.

The gold factory Kingdom has been spread to the Middle East in gold and jewelery consumption and sales. The top Arab holder of gold reserves is Saudi Arabia and is 16 th largest gold holder of the world. The World Council in the year 2010 June tracked the gold holdings around the world and said Saudi Arabia’s gold reserves 323 tonnes. The world council has stated Saudi Arabia as the largest holder of Foreign exchange reserves and has doubled its reserves.