MODON signs deals worth over SAR 2.3B

The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed industrial contracts worth over SAR 2.3 billion during the Future Minerals Forum (FMF).

The agreements aim to empower the mining industries in line with the Kingdom's Vision 2030, which seeks to make the mining sector the third pillar of the national industry, according to the state-run SPA.

The contracts include the allocation of an industrial land plot spanning over 205,000 square meters (sqm) in the Dammam Third Industrial City, with an investment of SAR 1.3 billion in localizing the aluminum wafer industry. This is one of the complementary industries for mining sectors relying on aluminum alloys as a raw material.

Additionally, MODON allocated an industrial land of 69,000 sqm in the Shaqraa Industrial City, with an investment of over SAR 125 million in localizing car battery production and strengthening national supply chains to support the automotive industry in the Kingdom and enable exports to regional and global markets.

Furthermore, MODON allocated 120,000 sqm of industrial land in the Al Kharj Industrial City, with an investment of SAR 195 million in establishing a plant for sustainable cement alternatives, with a capacity of up to 2 million tons per year. The project will help reduce carbon emissions from concrete production by up to 50% and enhance air quality standards in line with the Kingdom's environmental goals.

MODON also signed a cooperation agreement with Saudi Arabian Mining Co. (Maaden) to develop infrastructure for the residential area in the second phase of the Waad Al-Shamal Industrial City, covering an area of 365,000 sqm. The goal is to enhance quality of life with a fully serviced residential environment.

A memorandum of understanding was signed to develop industrial land designated for industries related to mining activities in the area surrounding the Al-Khaniqiyah mine. This will facilitate the work of mining companies and enable the optimal exploitation of up to 25 million tons of raw materials, including zinc, copper, manganese, and gold.