CEO of the Saudi Authority for Industrial Cities and Technology Zones (MODON) Eng. Majed Al-Argoubi and President of General Electric (GE) Saudi Arabia and Bahrain Hisham Al-Bahkali have signed an agreement whereby GE factories spread over 120,000 square meters in the Eastern Region will come under MODON supervision.
GE Saudi Arabia's industrial complex consists of two factories and a research center, including a power industry technology plant, which is the largest center for service and repair of advanced turbocharged equipment and the largest gas maintenance and sophisticated turbine maintenance center outside the US.
The plant directly serves its main customers within the Kingdom, primarily Saudi Electricity Company, Aramco, and Saudi Basic Industries Corporation. The center, where Saudis constitute up to 64% of the employees, also provides services to over 70 customers in more than 40 countries in Europe, Asia, and Africa.
Under the above agreement, MODON says that initiatives will be launched to support and empower entrepreneurs and SMEs, in line with the National Industry Strategy.
It also aims to diversify the national economy, in line with the Saudi Vision 2030.
MODON is also keen to boost its partnerships with major global manufacturers and companies, to contribute to supporting the Saudi industry with advanced technologies and to enhancing its competitiveness in regional and international markets.
MODON supervises 18 private industrial complexes and cities; it has created an industrial environment that stimulates the growth of investment activities, supported by all industrial services and products, and offers logistical and technical solutions that are consistent with global best practices in this field.
Through its strategy to empower industry and contribute to increasing local contribution, MODON seeks to help the private sector contribute some 65% to the GDP, under the umbrella of the National Strategy for Industry, which is in line with the objectives of the Saudi Vision 2030.
