Arab News, Sunday, Feb 26, 2023 | Sha'ban 06, 1444
Food production deals worth $290m signed by Saudi Arabia’s industrial city authority in Vision 2030 boost
Saudi Arabia:
The Saudi Authority for Industrial Cities and
Technology Zones, known as MODON, revealed that in 2022 it signed a number of
agreements, worth a total value of SR1.69 billion ($285 million), the Saudi
Press Agency reported.
The announcement was made during the Gulfood
exhibition in Dubai, where the authority outlined recent partnerships aimed at
localizing the Kingdom’s food and beverage industry in line with Saudi Vision
2030’s National Industry Strategy.
MODON signed a SR50 million agreement with Jordan
Valley Food Industries Co. to build a factory in Jeddah’s 2nd Industrial City to
produce grains and legumes. In the same industrial city, it also agreed to
develop a factory for frozen meat production worth SR140 million with Siniora
Food Industries Co.
Furthermore, the authority signed an SR375 million
contract with the Kuwaiti Danish Dairy Co. to build a 100,000 square meter
factory in Sudair Industrial and Business City near Riyadh to produce a variety
of food and beverages.
MODON also agreed to allocate industrial land in
Dammam 2nd Industrial City to produce ketchup, mayonnaise, and other tomato and
bread derivatives with the UAE-based IFFCO Group.
And recently, MODON partnered with a number of
specialized companies to establish advanced food industrial clusters in line
with Vision 2030’s National Industrial Development and Logistics Program. These
included Brazilian food brand Seara, and Kuwait’s Alshaya Group.