The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed nine substantial contracts with the private sector worth over SAR1 billion ($266.4 million) as part of its efforts to significantly boost the development of industrial cities across the kingdom.

This initiative is strategically designed to establish and enable an industrial and investment environment that perfectly aligns with Modon’s vision to become the preferred destination for investment growth and the primary partner in the industrial sector, in line with the objectives of the National Industrial Strategy and the Kingdom’s Vision 2030.

The new projects include infrastructure development works for the initial phase in the third industrial city in Jeddah and another for the initial phase of second industrial city in Makkah, along with allocating 4.3 million sq m of land for investment to enhance its investment system, in line with the expectations of local and international investors.

A contract was also signed to develop the infrastructure in the third industrial city in Dammam and allocate 2.5 million sq m of land to meet the growing demand for industrial investment in the Eastern Province.

Modon also sealed a deal to establish 132 kV overhead lines in the industrial city of Tabuk, with a capacity of 100 MVA, and another contract for the establishment of 115 kV overhead lines in the industrial city of Hafar Al-Batin, also with a capacity of 100 MVA, to improve operational efficiency and fulfil the electrical energy requirements of industrial investors.

Modon is dedicated to developing industrial cities that adhere to international standards, supporting Saudi Arabia’s transformation into a prominent industrial force and logistics hub.

At the beginning of 2024, it launched “Modon Oasis” in Jeddah as part of its initiatives to attract quality industries, promote entrepreneurship projects, and assist small and medium-sized enterprises.

Since its inception, Modon has successfully developed over 209 million sq m and has implemented a comprehensive infrastructure system. It currently oversees 36 industrial cities, including six industrial oases across the kingdom, housing over 6,500 industrial facilities that bolster the industrial sector and contribute to significantly increasing national exports.-TradeArabia News Service

Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).