Modon signs rehabilitation contract for Al-Qassim Industrial City

The contract includes the implementation of the following works:

• Scrapping and asphalting some of the main roads.
• Execution of some roads within the industrial city.
• Installation of cornerstone and sidewalk tiles.
• Planning of traffic signs on the network of roads and intersections.

The work is expected to be completed in the month of Shawwal, 1430 H. The industrial city area is one and a half million square meters including 58 industrial projects, whereas the industrial city is located on King Abdulaziz Road between Buraidah and Unaizah cities.

Dr. Alrabiah announced that Modon is keen to develop industrial cities and provide new and distinguished services. In order to achieve this, water services have been allocated, industrial security, smart city services have been launched, lands for hotel projects, commercial and service complexes have been allocated in some industrial cities, as well as, the rehabilitation of infrastructure and maintenance of roads, sidewalks, lightning, water and landscaping systems so as to obtain the best results that are compatible with the highest global standards.

Rehabilitation contracts were signed last month for rehabilitation of both Makkah industrial city and Ahsa Industrial City and new projects will be tendered in the coming days.

With regards to future projects in Al-Qassim area, preparations are currently under process to finalize the general plan of Al-Qassim 2ndIndustrial city. Also a road and intersection linking 2nd Industrial city with Riyadh /Qassim highway has been designed.

Modon is studying with Saudi Electricity Company the electricity transmission project to the industrial city. Tendering these projects will be launched in conjunction with tendering infrastructure development over the next year 2010.

It is worth mentioning that Modon has published a number of advertisements in newspapers during the last week announcing the availability of industrial lands at incentive prices. The aim of these advertisements is to identify the lands available by Modon in ten industrial cities for the development of the industrial sector and for the distribution of the development opportunities in various regions of the Kingdom. The listed cities are as follows : Sudair, Jeddah 2, Al-Kharj, Madinah, Tabuk, Hail, Ar'ar, Al-Jouf, Jazan and Najran.

This announcement is a significant unusual qualitative leap in the promotion of industrial investment in the industrial cities. It was stated in the advertisements that industrial loans reaching up to 100% of the total funding are provided. The industrial loans are also free from any annual fees and the re-payment period will be ten years.

These loans are allocated for distinguished projects in the less developed regions, where land requests are very few, namely: Tabuk, Al-Jouf, Hail, Ar'ar, Jazan, and Najran. The value of the loan for a single project will be up to three million riyals. These loans are applied for and approved by Modon and funded through Saudi Credit and Savings Bank.

At the end of his speech Dr. Alrabiah reemphasized that Modon welcomes investors to invest in the said regions whether their investments be in industrial, service, commercial or residential sectors.