MODON seeks to attract investments of up to 2 billion Riyals

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Fencing of Madina Al-Munawwara Industrial City
ModonModon has adopted a standardized design for fencing of industrial cities as part of its efforts to maintain the security of industrial cities and reduce encroachment on the property of the factories, and to have industrial cities look beautiful with a model of the fences design.

The Director General of ModonModon Dr. Tawfig Alrabiah signed contract for fencing of Madinah Al-Munawwarah industrial city. The terms of the contract include:

· Survey works of the fence route,

· erection of 6 km long fence,

· borders and matching ownership deeds at the site.

Dr. Alrabiah stated that this project is a new addition to a series of projects being implemented in the industrial city of Medina. ModonModon has recently tendered projects for linking the industrial city of Medina to Al-Hijra (migration) road and King Khalid Road and beautify the northern entrance of the city at a cost of 114.4 million riyals, which is to be implemented during the current year, and consists of a 3 lanes double road - of traffic in each direction, a central island of around 9 meters - with the intersection of flyovers.

The industrial city of Medina has also witnessed rapid development as the number of factories two years ago did not exceed one factory, whereas now there are 34 producing and under construction factories and 43 industrial projects are under execution. These will provide five thousand job opportunities and attract industrial investments up to 2 billion riyals. The cost of ModonModon projects and the completion of infrastructure development in the industrial city amount to 139 million riyals.

On the other hand, Dr. Alrabiah confirmed that there are many incentives available for industrial investment in the industrial cities, including:

· Fully integrated infrastructure and high-speed IT networks;
Access to financial facilities and government loans of up to 50%:
Subsidized industrial electricity at (12) halalas/kwh;

· Exemption from customs duties on machinery and equipment and raw materials used in industry;

· Provide investment opportunities for banking, consultancy, security and residential and commercial services projects;

· Delivery of land in a short period from the date of submitting the application electronically through ModonModon site www.modon.gov.sa.

Features of Madina Al-Munawwara Industrial City are:

· Proximity to local and international markets, especially that Madina Al-Munawwara experiences seasons throughout the year;

· Population of the region is one million and four hundred thousand.
Located at the entrance of Madina Al-Munawwara for people coming from Mecca;

· Madina Al-Munawwara is rich in mineral wealth and natural materials, the most important mineral resources are gold and silver. Magnesium, copper, lead, chromium, nickel and radioactive elements are also abundant in the region;

· Images of agricultural activity in the region are plentiful, particularly the palms and grapes, vegetables and fodder.

It is noteworthy that Madina Al-Munawwara is located in the northwestern part of central Saudi Arabia and includes the 7 provinces (Madina Al-Munawwara, Yanbu, Al-Ula, Mah'd, Gold, Badr, Khyber and Hanakia). The region has a population of about (1,400,000) people, and the industrial city is located about 17 km south-west of Madina Al-Munawwara in Hamra Al-Assad, west of Al-Hijra Road, Mecca on an area of 9.948,000 m².

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© Press Release 2010