Saudi: Modon signs agreement with General Electric to annex its industrial complex in the eastern region

Saudi: Modon signs agreement with General Electric to annex its industrial complex in the eastern region

Riyadh: CEO of the Saudi Authority for Industrial Cities and Technology Zones (MODON) Eng. Majed Al-Argoubi and President of General Electric (GE) Saudi Arabia and Bahrain Hisham Al-Bahkali have signed an agreement whereby GE factories spread over 120,000 square metres in the Eastern Region will come under MODON supervision. MODON supervises 18 private industrial complexes and cities; it has created an industrial environment that stimulates the growth of investment activities, supported by all industrial services and products, and offers logistical and technical solutions that are consistent with global best practices in this field. Through its strategy to empower industry and contribute to increasing local contribution, MODON seeks to help the private sector contribute some 65% to the GDP, under the umbrella of the National Strategy for Industry, which is in line with the objectives of the Saudi Vision 2030. GE Saudi Arabia's industrial complex consists of two factories and a research centre, including a power industry technology plant, which is the largest centre for service and repair of advanced turbocharged equipment and the largest gas maintenance and sophisticated turbine maintenance centre outside the US. The plant directly serves its main customers within the Kingdom, primarily Saudi Electricity Company, Aramco and