Riyadh – Sharikat Mubasher: Saudi Arabia’s industrial sector is set for significant growth as the Saudi Authority for Industrial Cities and Technology Zones (MODON) announced 23 private sector development contracts worth over SAR 1.7 billion ($453 million).

These agreements target diverse initiatives, including industrial city expansions, construction of ready-made factories, enhanced safety and security systems, and infrastructure upgrades aligned with the National Industry Strategy, as reported by the Saudi Press Agency. 

Projects will also address water management, improve electricity services, expand road networks, and promote environmental sustainability through vegetation growth.

The contracts emphasize the private sector's critical role in advancing Vision 2030 objectives, such as economic diversification, local production, and attracting investment. MODON highlighted that these initiatives will boost competitiveness, operational efficiency, and regional development.

This announcement builds on MODON's July agreements, which included SAR 1 billion in contracts for infrastructure enhancements in industrial cities like Makkah, Jeddah, and Tabuk. Looking ahead, MODON plans further upgrades, including power line installations in Hafr Al-Batin and infrastructure development in Dammam’s Third Industrial City.

Since its establishment in 2001, MODON has overseen the growth of 36 industrial cities across the Kingdom. In Q1 2024 alone, it attracted SAR 3.4 billion in private investments, signed 142 industrial contracts, and registered 6,758 factories. MODON also planted 576,000 trees and completed 335 logistics contracts, reflecting its commitment to sustainable and innovative development.