Modon to establish 40 industrial cities by 2015
Modon's industrial cities have grown from 14 in 2007 to 22 at present
The Saudi Industrial Property Authority (Modon) aims to establish 40 industrial cities throughout the Kingdom by 2015, according to director general Tawfiq bin Fawzan Alrabiah. The number of its industrial cities have mushroomed from 14 in 2007 to 22 at present.
Alrabiah attributed the rapid growth to the growing demand for industrial projects in the Kingdom from both local and international entrepreneurs. “The government is setting up new towns and expanding existing cities located in the neighborhood of the industrial cities to boost local industry.”
Alrabiah said the total capex to establish these industrial cities would include infrastructure such as roads, electricity and water, lighting and drainage systems, sanitation and water projects and wastewater treatment plants.
"The industrial growth during the past 20 years has been nearly twice that of the economic growth in the Kingdom,” said Alrabiah.