Saudi Industrial Property Authority (MODON) signed 5 land allocation contracts for investment projects with total cost reaching 420 million riyals in Dammam 2nd industrial city. Dr. Tawfig Bin Fawzan Alrabiah, the Director General of Saudi Industrial Property Authority (MODON) signed yesterday the contracts, in the presence of Corporate Directors.
The first contract was signed with the Saudi German Plastics Manufacturing Company. The project is to be implemented on an area of 21,000 square meters with an investment value amounting to 176 million riyals to produce twisting plastic pipes for the purpose of sanitation, disposal of floods and protection of cables.
The second contract was signed with Al-Mutlaq Service and Manufacturing Co. Ltd. The project is to be implemented on an area of 26,000 square meters with an investment value amounting to 80 million riyals to produce some auto parts such as radiators and clutches.
The Third contract was signed with Teikyo Middle East Electricity and Equipment Co. Factory. The project is to be implemented on an area of 33,750 square meters with an investment value amounting to 60 million riyals with an annual production capacity estimated at 200 units of high, medium and low pressure electric rotary motors.
The fourth contract was signed with Vital Chemicals Factory. The project is to be implemented on an area of 43,350 square meters. The Investment value amounts to 54.3 million riyals with an annual production capacity estimated at three thousand three hundred tons of vital laboratory materials.
The fifth contract was signed with Arab Company Factory for Pipe Projects. The project is to be implemented on a total area of 75,000 square meters. The Investment value amounts to 47.3 million riyals with production capacity of one million square meters for pipes lining.
Dr. Tawfig Alrabiah said that these factories in the industrial city shall provide job opportunities for Saudis. MODON is also seeking the industrial cities to be distinguished civilized cities in its services and provide a proactive environment. There are many investment opportunities offered to all companies and institutions to apply for investment in the industrial cities in many areas of investment such as, the establishment of hotels, gas stations, provision of banking services, establishment of educational and technology centers and colleges, building of refrigeration warehouses and technology- cities specialized in information technology (IT), medical technologies, energy, water desalination and other investment opportunities, whether industrial, commercial or residential or support services. He pointed out that lands were available for investment at the existing industrial cities in Hail, Tabuk, Madinah, Assir, Najran and Al-Jauf, whereby the investors can access or request the land electronically by visiting the following MODON website: www.modon.gov.sa.
Dr. Tawfig further added:” The larger goal of MODON lies in making Saudi Industry capable of competing locally and globally, therefore MODON has sought to develop the existing cities where it adopted and approved projects for providing advanced communication services (Smart Cities), rehabilitation of infrastructure, privatization of water services and industrial security”. “In the last three months contracts to develop new industrial cities in Jeddah, Al-Kharj, Jizan and Ar’ar were signed”, he added.
There are also non-developed areas for allocation. These areas are included in MODON's plan to establish new industrial cities in different regions of Saudi Arabia and the plans of these cities are being prepared in preparation for tendering the same for development over the next year in Sudair, Duba’, Zulfi, Taif, Baha and Gurayyat. These areas are available to developers on BOT system.
It is noteworthy that Saudi Industrial Property Authority (MODON) has been established in 2001 under legislation by a Royal Decree issued for this purpose. MODON's responsibility is represented in the development of industrial lands in partnership with the private sector. The existing industrial cities are scattered in various parts of the Kingdom in Riyadh, Jeddah, Dammam, Makkah, Qassim, Ahsa, Madinah Al-Munawwara, Assir, Al-Jauf, Tabuk, Hail and Najran. These cities include more than 3,000 factories with investments exceeding 200 billion riyals and more than 300 thousand employed workers working in these cities.
