MODON to establish integrated pharmaceutical complex

Author: 
Thu, 2019-05-23 23:05

JEDDAH: The Saudi Authority for Industrial Cities and Technology
Zones (MODON) has signed an industrial land lease covering more
than 62 thousand square meters in the city of Madinah, to build a
pharmaceutical complex including research and development centers,
with a total investment reaching SR 570 million.

MODON’s Director General Khalid bin Mohammed Al-Salem said
that the signing of the contract was the result of joint work with
the National Program for the Development of Industrial Compounds.
MODON provided various facilities and incentives to support the
investment, with the project set to provide nearly 1000 jobs for
both genders with a localization rate exceeding 50 percent.

He added that the project is in line with the goals of the
National Industrial and Logistics Development Program (NIDLP) to
localize the most advanced industries in the world, in accordance
with Saudi Vision 2030 for economic diversification.

Since its inception in 2001, MODON has been developing
integrated industrial lands in accordance with the highest
international standards. It currently oversees 35 industrial cities
under development in various regions of the Kingdom, in addition to
supervising private industrial parks and cities. The developed
industrial lands exceeded until today 198.8 million square meters,
while the existing industrial cities include 3,474 productive
factories.

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Source: FS – All-News-Economy
MODON to establish integrated pharmaceutical complex