Riyadh, Saudi Arabia — The Authority for Industrial Cities and Technology Zones (MODON) has signed an agreement with GE whereby the latter’s factories spread over 120,000 square metres in the Eastern Region will come under MODON supervision.
The agreement was signed between the CEO of the MODON Eng. Majed Al-Argoubi and President of General Electric (GE) Saudi Arabia and Bahrain Hisham Al-Bahkali on Sunday.
MODON supervises 18 private industrial complexes and cities.
The company seeks to help the private sector contribute some 65 percent to the GDP, under the umbrella of the National Strategy for Industry, which is in line with the objectives of the Saudi Vision 2030.
GE Saudi Arabia’s industrial complex consists of two factories and a research centre, including a power industry technology plant, which is the largest centre for service and repair of advanced turbocharged equipment and the largest gas maintenance and sophisticated turbine maintenance centre outside the US. The plant directly serves its main customers within the kingdom, primarily Saudi Electricity Company, Aramco and Saudi Basic Industries Corporation.
The centre, where Saudis constitute up to 64 percent 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.
MODON is also keen to boost its partnerships with major global manufacturers and companies.