The Saudi Authority for Industrial Cities and Technology Zones (Modon) today (February 16) signed six industrial, investment and logistics agreements with a total investment of more than R1.03 billion ($274 million).
The agreement, in partnership with leading companies in the industrial and logistics sector, covers the localization of pipe manufacturing, strengthening the readiness of the country’s supply chain as well as the downstream industry, and covers a total area of more than 671,000 square meters.
These agreements aim to support sustainable industry growth and strengthen local content in line with the goals of the National Industrial Strategy.
The signing took place in the presence of Mr. Bandar Alkholayev, Minister of Industry and Mineral Resources and Chairman of the Modon Board of Directors, who was visiting the Sudea Industrial and Business City.
In the new agreement, Modon has entered into industrial agreements with Jindal So and Buhulu Altavision, investing over R562 million over 540,000 square meters to localize pipe manufacturing, strengthen downstream industries and prepare a national supply chain.
The company has also signed a pharmaceutical contract with STADA in Saudi Arabia to localize human medicine production over 23,000 square meters of R366 million, supporting Saudi Arabia’s pharmaceutical security objectives.
To support the specialized industry, an industrial agreement was signed with Mubadala Engineering Company to invest R50 million in the local production of containers for liquefied and compressed gases over an area of over 100,000 square meters.
The Safety Science Medical Company also strengthened the integration of the local industry by signing a R40-million agreement for 8,400 square meters to localize pharmaceutical manufacturing.
In human resource development, Modon has partnered with the Al Majmah Chamber of Commerce and Industry to invest R15.9 million in a state-of-the-art training center aimed at developing professional national capabilities in the industrial sector.
The agreement concludes a Memorandum of Understanding (MoU) with AGEX to provide joint logistics and transportation services in the Sudea Industrial and Business City, improving the quality of services for investors and contributing to a more efficient industrial ecosystem.
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