The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted investments worth $34.6 million to localize military aircraft industries, including drones, and provide repair, maintenance, and overhaul services for ships.
The investment is one of the authority’s objectives to promote investment opportunities in industrial cities among major local and international companies.
MODON signed two contracts to allocate two ready-made factories with an area of 700 square meters and investments of $13.3 million in manufacturing military aircraft, parts and pieces of military and civil aircraft, and drones.
It concluded a contract to allocate a logistics land area of 3,000 square meters and investments of $8 million for ship repair and maintenance.
The contract also stipulates repair, maintenance, and overhaul services for spare parts for military vehicles, aircraft, ships, water filtration devices, ship and train engines, and valves.
MODON participated in a pavilion in the second edition of the World Defense Show 2024, held in Riyadh between February 4 and 8.
The event was held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, to represent the industrial sector and highlight the qualitative opportunities, capabilities, and incentives to enable military industries to align with the National Industrial Strategy.
According to MODON, the benefits of investing in its 36 industrial cities throughout the Kingdom include the availability of a labor force, advanced infrastructure, and logistical solutions that help achieve a competitive and sustainable industrial economy.