Logistic Other
Saudi's MODON pens over $2bln industrial, logistics agreements
The Saudi Authority for Industrial Cities and Technology Zones (MODON) penned several agreements and memoranda of understanding (MoUs), with total investments valued at SAR 8.80 billion.
The deals, which cover a total area exceeding 3.30 million square meters (m²), aim at developing industrial and logistics projects, the Saudi Press Agency (SPA) reported.
With an investment valued at SAR 5 billion, the authority inked a contract to develop a private industrial complex in the Dammam Third Industrial City, spanning 1.80 million m².
Additionally, MODON and China’s JINGDONG Property company sealed a deal to establish warehouses with a total area of 50,000 m² and an investment of up to SAR 100 million in MODON Oasis in Jeddah.
A MoU was also signed to facilitate cooperation in studying, developing, and operating industrial and logistics projects, with investments amounting to SAR 3.75 billion.
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