Saudi: Modon launches ten new development projects in six industrial cities worth over $143.46mln

Saudi: Modon launches ten new development projects in six industrial cities worth over $143.46mln

Riyadh: The Saudi Authority for Industrial Cities and Technology Zones (MODON) has unveiled plans for ten new development projects across six industrial cities, collectively valued at over SAR538 million.

These projects, conducted in collaboration with several national companies, aim to foster opportunities for value chain initiatives and bolster local content.

This initiative aligns with MODON's steadfast commitment to crafting an exemplary investment environment that aligns with investor expectations within the industrial sector.

It forms a crucial part of their mission to empower the private sector in diversifying income sources, as outlined in the National Industrial Strategy and the National Industrial Development and Logistics Program (NDLP).

Among the agreements, MODON has inked a contract for establishing 80 factories and ready-made products in Al-Ahsa and Taif's industrial cities, along with the MODON Oasis in Al-Ahsa. These spaces, spanning 350 and 450 square meters, aim to provide solutions that facilitate business operations, empowering entrepreneurs and SME owners to augment their contributions to the GDP in line with Saudi Vision 2030 objectives.

Additionally, MODON has finalized three contracts for constructing advanced infrastructure, covering an area exceeding 5.7 million square meters in the eastern expansion of the Hail Industrial City and Al-Madina Al-Munawwara Industrial City. These efforts are geared towards