The Saudi Authority for Industrial Cities and Technology Zones (Modon) intends to announce projects worth around 10 billion |Saudi riyals ($2.66 billion) in the next few years, a Modon official was quoted on Thursday as saying.
The projects cover roads, bridges, water, electricity, sewage communication, technology and services, said Mansour Al-Tirbaq, Modon’s Project Manager.
Tirbaq told the Saudi daily Aleqtisadia that projects with a combined value of SAR 2.5 billion ($666 million) would be announced in 2023.
“More projects will be announced in 2024 and 2025…we will continue to announce such projects until 2028,” Tirbaq said, adding that power projects involve building small plants and expanding existing units to serve industrial cities in the Gulf Kingdom.
(Writing by Nadim Kawach; Editing by Anoop Menon)