Saudi Authority for Industrial Cities and Technology Zones (Modon) today (February 16) signed six industrial, investment and logistics agreements with the total investments worth over SAR1.03 billion ($274 million).
The deal, inked with leading players in the industrial and logistics sectors, will cover localisation of pipe manufacturing, boosting national supply chain readiness as well as downstream industries and will involve total area spanning over 671,000 sq m.
These agreements are aimed at supporting sustainable industrial growth and enhancing local content in line with the objectives of the National Industrial Strategy.
The signings took place in the presence of Bandar Alkhorayef, the Minister of Industry and Mineral Resources and Chairman of the Board of Directors of Modon, during his visit to Sudair Industrial and Business City.
Among the new agreements, Modon has signed an industrial contract with Jindal Saw and Buhur Altavision, investing over SAR562 million across 540,000 sq m for the localisation of pipe manufacturing, bolstering downstream industries as well as national supply chain readiness.
It also signed a pharmaceutical contract with STADA Saudi Arabia investing SAR366 million across 23,000 sq m to localise human-use pharmaceutical production, supporting the Kingdom’s pharmaceutical security goals.
Supporting specialised industries, an industrial contract was signed with Mubadara Engineering Company, investing SAR50 million across more than 100,000 sq m for the local production of vessels for liquefied and compressed gases.
Safety Science Medical Company also signed a SAR40 million agreement over 8,400 square meters to localize pharmaceutical manufacturing, enhancing local industry integration.
In human capacity development, Modon partnered with Al Majmaah Chamber of Commerce to invest SAR15.9 million in a state-of-the-art training center aimed at developing specialized national competencies for the industrial sector.
The agreements concluded with a Memorandum of Understanding (MoU) with AGEX Company to provide shared logistics transportation services in Sudair Industrial and Business City, improving service quality for investors and contributing to a more efficient industrial ecosystem.