The Saudi Authority for Industrial Cities and Technology Zones (MODON) has significantly elevated the mining and manufacturing sectors in Saudi Arabia by securing foreign investments totaling SAR 255 million. This achievement was realized through the allocation of developed lands covering an expansive area of 87,547 square kilometers in the industrial city of Al-Kharj. The move comes as part of MODON’s commitment to diversify the production base and support the mining sector in alignment with the Saudi National Industrial Strategy (NIS) and Vision 2030.
Key Developments:
- Foreign Investments Drive Growth:
MODON’s participation in the third edition of the Future Minerals Forum at the King Abdulaziz International Conference Center in Riyadh resulted in the attraction of foreign investments amounting to SAR 255 million. This injection of capital is aimed at fostering growth in the mining and manufacturing industries. - New Factories and Contracts:
The new investments include the signing of allocation contracts with two international companies, one Chinese and another Egyptian. These agreements are set to establish two factories: one for the production of primary iron products, spanning an area of 58,800 square kilometers, and the other for manufacturing marble and granite tiles, covering an area of 28,747 square kilometers. - Strategic Collaborations:
MODON signed two memoranda of understanding (MoUs) during the forum. The first MoU, with the Saudi Geological Survey, focuses on collaborative research projects in areas of mutual interest, including technology localization, local content support, and human capital development. The second MoU, with Ma’aden (Saudi Arabian Mining Company), aims to enhance local content, increase employment, and promote regional economic development through Ma’aden’s “Tharawat” program. - Record Increase in Factories:
In 2023, MODON achieved a notable 4.36% increase in the number of mining and manufacturing factories, reaching a total of 1,629. These factories are primarily concentrated in industrial cities such as Riyadh, Jeddah, Dammam, and Al-Kharj, contributing to record revenues in Saudi Arabia’s mining sector. - Focus on Diversification and National Strategy:
MODON is actively working on diversifying the production base and supporting the mining sector in line with the Saudi National Industrial Strategy (NIS). The goal is to increase value-added, raise the percentage of technically based manufactured products, and boost national exports, aligning with the Kingdom’s Vision 2030 aspirations. - Panel Discussion on Supply Chain Stability:
MODON participated in a panel discussion at the forum, emphasizing its role in supporting and supplying the metal industries to ensure the sustainability of mineral supplies in its industrial cities.
MODON’s strategic initiatives to attract foreign investments, establish new factories, and forge collaborative partnerships underscore its commitment to the growth and sustainability of the mining and manufacturing industries in Saudi Arabia. As the authority continues to align with national strategies and Vision 2030, the industrial cities under MODON’s supervision are set to play a crucial role in enhancing local content and contributing to the Kingdom’s economic development.
