The Saudi Authority for Industrial Cities and Technology Zones (Modon) signed investment contracts worth more than SAR500 million riyals during the just concluded Cityscape Global exhibition in Riyadh.
The contracts were signed in partnership with the public and private sectors.
The investment contracts included the signing of 3 contracts to provide engineering and supervisory services for major infrastructure development projects, national industrial development programme initiatives, and logistics services in industrial cities, worth SAR131 million, in cooperation with Jasara Company.
It also signed an agreement with the Tourism Development Fund to develop tourism projects in certain earmarked areas.
A contract was signed with Aric to build, develop, and operate 108 ready-made factories with an investment value of SAR100 million on an area of 100,000 square meters in the Mudon Oasis in Jeddah.
A similar contract was signed with MASIC Logistics to build and develop 172 ready-made factories with an investment value exceeding SAR200 million on an area of 180,000 square meters in the third industrial cities in Riyadh and the third in Dammam to facilitate the work of small and medium enterprises and entrepreneurship.
Modon and the Peninsula Contracting Company concluded a contract to develop an area exceeding 1.5 million square meters in the second industrial city in Makkah Al-Mukarramah “Al-Ukaishiya” to support sustainable development in the region.
It also signed another contract with a transportation and technology company. Water Transmission and Technologies Co. (WTTCO) to implement a water network in the Mudon Oasis in Jeddah with an investment of SAR30 million.
Modon’s Executive Vice President for Business Development, Ali Al-Omair, said the authority works according to an integrated strategy to create a distinguished industrial environment and develop value-added national and foreign investments.
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