https://arab.news/mnpbm
RIYADH: Saudi Arabia’s National Industry Strategy continues to make strides, with the signing of contracts worth SR538 million ($133 million).
The Saudi Authority for Industrial Cities and Technology Zones, known as MODON, announced the inking of 10 agreements with various private sector entities to raise operational efficiency in several cities in the region.
The Kingdom’s comprehensive roadmap for accelerating the diversification of this sector aims to increase non-oil exports, promote privatization, attract more foreign investment, and generate local employment.
According to a release by the body, the agreements were funded by the National Industry Strategy, as well as the National Industrial Development and Logistics Program.
Among the deals signed was an agreement with Bena Al-Jazeerah Contracting Co. for the establishment of 20 ready-to-operate factories in the MODON Oasis in Al-Ahsa.
The Al-Ahsa region will also see the facilitation of 40 support units in its industrial city through a contract signed between the body and Consulting for Building Technology.
Further deals were inked between MODON and Bingarbee Contracting for the completion of the road linking the Third Industrial City in Dammam with King Salman Energy Park.
The body also partnered with Labenat Al-Bena Contracting Co. to establish a civil defense station in the industrial city of Hail and 20 prefabricated factories in Taif.
Taif will also see the implementation of a medium and low-voltage network through a contract inked with Jeddah-based Al-Assail Contracting Co.
Through a partnership with Shibh Al-Jazira Contracting Co., the organization will additionally guarantee the development of the infrastructure for the Eastern expansion in the industrial city of Hail, as well as execute the framework for blocks three and four in Madinah.
An agreement with Al-Enjaz Trading and Contracting Co. seeks to further advance Madinah’s industrial city by implementing the foundation for block number five.