The Saudi Authority of Industrial Cities and Technology Zones (MODON) signed several agreements and memoranda of understanding (MoUs) with a total capital investment valued at SAR 8.80 billion.
The Saudi Press Agency (SPA) reported that the agreements, comprising a total area of over 3.30 million square meters (m²), are meant to build industrial and logistic projects.
The authority signed an agreement to construct a private industrial complex in the Dammam Third Industrial City, covering 1.80 million m² with an investment of SAR 5 billion.
Moreover, a contract was signed between MODON and the JINGDONG Property company of China to create warehouses amounting to 50,000 m² and an investment of up to SAR 100 million in MODON Oasis in Jeddah.
An MoU was also signed to facilitate cooperation in studying, developing, and operating industrial and logistics projects, and investments were SAR 3.75 billion.
