Modon secures SAR 130 mn to localize military industry

Feb 11, 2024

Riyadh - Sharikat Mubasher: The Saudi Authority for Industrial Cities and Technology Zones (Modon) successfully secured investments worth SAR 130 million during the World Defense Show (WDS) 2024.

According to the authority, these investments will be allocated to localize the military aircraft industry in the Kingdom, including autonomous military aircraft, in addition to providing maintenance services for military vessels.

During the show, Modon showcased services, products, and innovative industrial incentives that enhance its production base, including military industries.

The authority also announced a bunch of investment incentives in 36 industrial cities across the Kingdom to attract more investments, including supplier networks, cutting-edge infrastructure, and logistics services necessary to achieve a sustainable industrial economy.

The World Defense Show 2024 took place in Riyadh from 4 to 8 February, with the participation of more than 750 exhibitors from over 45 countries.