Modon inks contract to establish 84 ready factories

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

Saudi Authority for Industrial Cities and Technology Zones (MODON)  inked a contract with MASIC Logistics to build 84 ready factories at an investment of SAR 85 million, Saudi Press Agency reported.  

Under the contract, MODON will allocate an industrial land plot spanning 80749 square meters (sqm) in Riyadh Third Industrial City with a ready factory space of 2,700 sqm. 

The contract is part of MODON’s effort to enhance partnerships with the private sector entities and contribute to the economic transformation in line with Saudi Vision 2030, said Director of Marketing and Corporate Communications and spokesperson Kosai Al-Abdulkarim.   

Al-Abdulkarim indicated that industrial cities now have 1,000 ready factories, 95% of which are allocated for small and medium enterprises (SMEs), entrepreneurs and woman investors. 

The ready factory space option varies between 700-1,500 sqm and other small spaces of 350 sqm, within MODON’s initiatives in line with Saudi Arabia’s The National Industrial Development and Logistics Program (NIDLP). 

MODON lately announced the launch of 58 ready factories spanning 2,700 sqm in Sudair Industrial City to spur SMEs role in the local economy, in line with Vision 2030.