Muslim pilgrims from all around the world circle around the Kaaba at the Grand Mosque, in the Saudi city of Mecca on September 14, 2016. More than 1.8 million faithful from around the world have been attending the annual pilgrimage which officially ends on September 15. (AFP Photo)

RIYADH, Sept. 17 (Xinhua) -- Saudi Arabia has agreed to form a company to develop and increase the capacity of the holy sites in Mecca and Medina, local Al Eqtisadiya news website reported Saturday.

The proposed company, which will be owned by the government, was approved days after the kingdom announced the success of the hajj season that brought together more than 1.8 pilgrims.

The company will be in charge of enhancing the efficiency of utilities and services such as electricity, water, air-conditioning and cleanness. It will work to separate the routes of pedestrians and vehicles.

To generate money, the company will invest in the holy sites to be tourist attractions throughout the year, especially the religious archaeological sites.

The company is expected to generate thousands of job opportunities for local manpower.

The company is part of many initiatives the country are adopting to get ready for post-oil era by implementing various economic and investment projects.