FINANCIAL NEWS

Makkah Governor to inaugurate the 2nd industrial city in Jeddah

14 Mar 2012

(MENAFN) A Saudi official said that the Saudi Industrial Property Authority (Modon) has invested about USD533 million to establish industrial cities in the Makkah province.

Abdul Elah bin Musheet, director of the authority in the Western region said that Modon is currently developing 33 million square meters of land in Jeddah, including eight million square meters for the second industrial city, 20 million square meters for the third industrial city and five million square meters for the fourth one.

Makkah Gov. Prince Khaled Al-Faisal will open today the second industrial city in the district of Al-Khomrah south of Jeddah and lay the foundation stone for the third one.

He added that there are 546 industries in Jeddah including 505 that have reached production stage, pointing that about USD8billion have been invested in Jeddah industries that employ more than 80,000 workers.

He also unveiled that 14 joint ventures between Saudi and foreign companies and 20 industries have been established by international companies.

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