RIYADH: Minister of Industry and Mineral Resources and Chairman of the Board of the Saudi Authority for Industrial Cities and Technology Zones, known as MODON, Bandar Alkhorayef, launched capital projects valued at approximately SR3 billion ($810 million), covering infrastructure, water, electricity, and ready-built factories.
He also oversaw the signing of several supporting industrial contracts in Sudair City for Industry and Businesses in the presence of MODON's CEO, Majed Al-Argoubi.
The announcement came during the minister’s visit to Sudair City for Industry and Businesses, where he inaugurated a number of infrastructure development projects worth SR1.8 billion.
These included upgrades to road networks and water and sewage systems, construction of a 12,500-cubic-meter water reservoir, and the launch of the fourth phase of infrastructure development, covering 6 million sq. meters.
The visit also included a review of the construction of a 200 megavolt-amperes electrical substation, as well as a project to build 44 ready-built factories to enhance the city’s readiness to attract industrial investment and improve services for entrepreneurs.
The minister also witnessed the signing of six industrial and investment contracts and a memorandum of understanding with the private and public sectors, with total investments exceeding SR1billion.
The agreements are part of the authority’s efforts to create an attractive investment environment locally and internationally, support the localization of industries, and enhance local content, as well as improve the quality of life in industrial cities.
In the field of human capital development, MODON signed an SR16 million contract with the Majmaah Chamber of Commerce to establish a state-of-the-art training center. The hub aims to develop specialized national competencies that support the growth of the industrial sector and includes an incubator dedicated to the children of industrial city employees.
The series of partnerships concluded with a MoU with AJEX, which will provide shared logistics and transport services at Sudair City for Industry and Businesses.
The initiative is designed to enhance the quality of logistics services for investors, a critical factor in enabling sustainable industrial sector growth.
These partnerships align with the objectives of the National Industrial Strategy, which seeks to build an advanced industrial base, strengthen national supply chains, enable high-value-added industries, and increase the industrial sector’s contribution to gross domestic product.
