MODON forms strategic partnership in food industries to lure SAR 4 bln investments

Logo of The Saudi Authority for Industrial Cities and Technology Zones (MODON)

The Saudi Authority for Industrial Cities and Technology Zones (MODON) launched a strategic partnership with one of the major food manufacturing companies to attract investments worth up to SAR 4 billion, Saudi Press Agency reported.

The new partnership includes the allocation of industrial land spanning ​​50,000 square meters (sq m) to establish a factory in the Dammam 2nd Industrial City, with investments of more than SAR 500 million, said Qusai Al-Abdul Karim, MODON's Director of Marketing and Corporate Communications Department.

He added that a memorandum of understanding was signed to establish various future projects with investments of around SAR 3.5 billion in some industrial cities.

Al-Abdul Karim underlined MODON's efforts to localize the target food industries, as part of the national strategy for industry.

MODON has nearly 1,000 factories to manufacture food and beverage products, most of which are in the western sector, with about 490 factories, followed by the middle sector, with 315 factories. Meanwhile, the eastern sector has about 120 plants.