MODON Catalyzes Industrial Growth with $266 Million Private Sector Partnerships
RIYADH: The Saudi Authority for Industrial Cities and Technology Zones, known as MODON, is making significant strides in enhancing the Kingdom’s industrial landscape. By securing nine contracts worth more than SR1 billion ($266.5 million) with the private sector, MODON is set to transform service facilities and infrastructure across various industrial zones.
Strategic Developments Across Key Industrial Hubs
MODON recently announced several ambitious projects led by its CEO, Majed Al-Argoubi. Among these are the initial phase of infrastructure networks in Makkah’s industrial city and the first phase of infrastructure in Jeddah’s Third Industrial City. Additionally, plans are in place to build 132-kilovolt overhead power lines to boost electrical services in Tabuk’s industrial city. Though the contract details and specific companies involved were not disclosed, these public-private partnerships are crucial in drawing significant investments to Saudi Arabia.
Furthermore, MODON has unveiled plans for new initiatives, including the development of 115-kV overhead power lines aimed at enhancing electrical services in Hafr Al-Batin’s industrial city. Infrastructure improvements are also set for the first and second phases in Dammam’s Third Industrial City, with essential services being constructed in the second industrial cities of Jeddah, Tabuk, and Hafr Al-Batin.
Driving Economic Growth and Industrial Expansion
In a noteworthy collaboration, Saudia Dairy and Foodstuff Co. (SADAFCO) signed a long-term lease for a warehouse spanning over 15,000 square meters in Jazan, highlighting MODON’s role in fostering strategic partnerships. This agreement, formalized at the Saudi Food Show in Riyadh, underscores the potential for growth in the Kingdom’s food sector.
Since its inception in 2001, MODON has been a cornerstone in developing and managing industrial lands and infrastructure. Currently overseeing 36 industrial cities, along with private industrial complexes, MODON continues to support the Kingdom’s economic vision.
Record-Breaking Investments and Achievements
The second quarter of 2024 marked a period of remarkable achievements for MODON. The authority attracted private sector investments exceeding SR3.4 billion, signed 142 new industrial contracts, and registered 6,758 factories. In addition to conducting 3,217 regulatory visits in industrial cities, MODON also planted over 576,000 trees and finalized 335 logistics contracts, reinforcing its commitment to sustainable development and industrial growth.
As Saudi Arabia continues to position itself as a leading hub for industrial investment, MODON’s successful partnerships and strategic projects reflect the Kingdom’s dynamic business environment, offering lucrative opportunities for investors worldwide.
