The Saudi Authority for Industrial Cities and Technology Zones, known as MODON, has recently achieved a significant milestone by drawing in investments totaling SAR130 million. These funds are earmarked for the development of the local military aircraft sector, including the production of drones, as well as offering a comprehensive suite of services for ship maintenance, repair, and overhaul.
Attaining these investments aligns with MODON’s strategic goals to foster investment opportunities within industrial cities, appealing to prominent domestic and international corporations. In a move to solidify this ambition, MODON has finalized two agreements for the allocation of two fully constructed factories. These facilities are dedicated to the production of military aircraft, parts, and drones, each spanning 700 square meters and backed by an investment of SAR50 million.
Additionally, MODON has inked a deal for the allocation of a 3,000 square meter parcel of land dedicated to logistics, accompanied by investments of SAR30 million. This land will serve as a hub for the repair and upkeep of various maritime vessels, including military ships and boats. The contract also covers the maintenance and overhaul of spare parts for military vehicles, aircraft, and ships, alongside the servicing of water filtration systems, ship and train engines, and valves.
The authority showcased its offerings at the second installment of the World Defense Show 2024, hosted in Riyadh from February 4th to 8th. MODON touts the advantages of investing in its 36 industrial cities spread across the Kingdom, highlighting a robust workforce, cutting-edge infrastructure, and logistical solutions designed to cultivate a competitive and enduring industrial economy.