RIYADH: The Saudi Industrial Property Authority (MODON) has inked more than 6,000 industrial, logistic and services contracts for investments that exceed SR600 billion ($160 billion) and provide job opportunities for more than 520,000 employees.
Sami Al-Hussaini, official spokesperson of MODON, told Asharq Al-Awsat that factories in the industrial zones have registered a remarkable rise during 2015, in addition to the completed and under-construction industrial projects, noting that MODON has enhanced the attraction of industrial investment.
Al-Hussaini noted that the authority has managed 35 industrial cities by the end of 2015 after it joined the development and operation of the industrial zone in Waad Al-Shamal Region.
These industrial cities are characterized by their geographical spread across the Kingdom, which is one of MODON’s main goals, he added.
According to the official spokesman, the manufacturing industries’ contribution to the gross domestic product (GDP) reached 12.2 percent compared to 10.8 percent in 2014. He continued that these industries’ values reached around SR299 billion by the end of 2015.
Al-Hussaini asserted that the visit of Deputy Crown Prince Mohammed bin Salman to the United States and France marked a remarkable step toward the implementation of Saudi Vision 2030 through the inauguration of strategic partnerships with leading companies aiming at importing knowledge and technique, Saudization of expertise in the fields of manufacturing, maintenance, research, development, and the promotion of digital transformation.
The prince has inked an agreement with Cisco Systems International, one of the biggest technology companies in the world of information industry, and launched negotiations with Dow Chemicals and industries working in retail and modern commerce, he stated.
The spokesman of MODON said that the national infrastructure is ready to embrace these major projects through their planning and executing expertise.
Al-Hussaini also revealed that developed industrial lands have registered a growth that jumped from 40.5 sqm in 2007 to 182.5 sqm in 2015.
MODON adopts a flexible strategy in providing manufacturers with lands according to a specific mechanism and special services, and spreading more industrial cities in different regions in the Kingdom, which decreased pending demands in 2015 to 11, compared to 1,525 in 2012, he added.
Al-Hussaini stated that the authority manages the development and operation of private industrial cities and technological zones based on its role in regulating and encouraging the establishment of such projects in industrial lands owned by the public and private sector and to encourage the private sector on participating in different activities related to those cities.
As part of enhancing this vital role, MODON works on recruiting the developers who aim at establishing private industrial cities by providing significant incentives and facilitations.
In this concern, Al-Hussaini revealed that MODON has succeeded over the past years in attracting manufacturers and in authorizing the establishment of new private industrial cities that comprise around 86 manufactures.
MODON signs 6,000 contracts worth SR600bn
MODON signs 6,000 contracts worth SR600bn
Saudi energy minister holds series of high-level meetings to cement collaborations
RIYADH: Saudi Arabia’s Minister of Energy held a series of strategic meetings in Riyadh with senior ministers from various counties, in a diplomatic push to bolster international energy collaboration.
Officials from Greece, Brazil, and Morocco were among those to meet with Prince Abdulaziz bin Salman, as well as representatives from Libya and Pakistan.
The discussions centered on expanding cooperation across a wide spectrum of energy sectors, from traditional hydrocarbons to cutting-edge clean technologies, according to the Saudi Press Agency.
The engagements underscored Saudi Arabia’s proactive role in shaping the global energy transition through bilateral partnerships. A consistent theme across the talks was the dual focus on securing energy supplies and advancing climate-related solutions, including renewable power, clean hydrogen, and carbon management.
Deepening European and South American ties
Prince Abdulaziz bin Salman met with Greece’s Minister of Environment and Energy, Stavros Papastavrou. Building upon a previously signed Memorandum of Understanding, the two officials explored avenues for joint cooperation in oil and gas, electricity, and renewables, as well as other related sectors.
In a separate meeting with Brazil’s Minister of Mines and Energy, Alexandre Silveira, the parties discussed prospects for collaboration across various energy domains. They reviewed means to enhance coordination, particularly in electricity, renewables, oil and gas, and the exchange of technical expertise.
Signing a program with Morocco
A key outcome emerged from the meeting with Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali. Following their discussions on mutual interests, investment opportunities in renewables, and energy efficiency, the two sides signed an executive cooperation program.
This program, falling under an MoU signed in May 2022, aims to concretize the energy partnership. Its goals are boosting mutual investments in renewable projects and enabling national companies to collaborate on renewable energy projects.
It also encompasses using renewables in development projects, establishing joint research and development centers, and facilitating training and knowledge transfer.
Strengthening regional and Islamic cooperation
Prince Abdulaziz also conferred with Libya’s Minister of Oil and Gas, Khalifa Rajab Abdulsadek. Their meeting focused on energy cooperation, including energy technologies and solutions, as well as enhancing investment opportunities in renewables and energy efficiency.
Discussions with Pakistan’s Minister of Petroleum, Ali Pervaiz Malik, covered shared interests in oil and its supplies, renewable energy, energy efficiency, joint investment opportunities, and the exchange of expertise in project, policy, and regulatory development.
This flurry of diplomatic activity highlights Saudi Arabia’s comprehensive energy strategy, which seeks to maintain its leadership in traditional energy markets while pursuing a stake in the future clean energy economy.
