Minister of Industry and Mineral Resources and Chairman of the Board of the Saudi Authority for Industrial Cities and Technology Zones, referred to as MODON, Bandar Alkhorayef, initiated capital projects with an estimated cost of SR3 billion ($810 million) in infrastructure, water, electricity, and ready-built factories.
He has also supervised the signing of various support industrial contracts in Sudair City of Industry and Businesses under the watch of the CEO of MODON, Majed Al-Argoubi.
This was announced when the minister visited Sudair City to Industry and Businesses, where he opened several infrastructure development projects worth SR1.8 billion.
These consisted of the improvement of road networks, water and sewage systems, and the implementation of a 12,500-cubic-meter water reservoir and the fourth stage of the infrastructure development, covering 6 million sq. meters.
The visit also covered inspection of the construction of a 200 megavolt-amperes electrical substation, a plan to construct 44 ready-built factories to increase preparedness of the city to receive investment in industries, and to increase the services to the entrepreneurs.
The minister also presided over the signing of six industrial and investment contracts and a memorandum of understanding with the private and public sectors, with total investments amounting to over SR1billion.
The agreements also belong to the attempts of the authority to establish a favorable investment climate both locally and internationally, to promote the localization of industries, to increase the level of content, and to improve the living conditions in the industrial cities.
In the human capital development, MODON entered into a contract of SR16 million with the Chamber of Commerce at Majmaah in order to create a state-of-the-art training center.
The hub is intended to prepare national competencies that are specialized to facilitate the development of the industrial sector and has an incubator that caters to the children of the employees of the industrial city.
The chain of partnerships has ended with an MoU with AJEX, which will offer common logistics and transport services at Sudair City in the industry and Businesses. The program will lead to the improvement of the quality of logistics services to the investors, which is a vital element in the sustainable growth of the industrial sector.
These collaborations resonate with the National Industrial Strategy goals of creating an industrial base, enhancing national supply chains, empowering high-value-added industries, and boosting the share of the industrial sector in gross domestic product.
