RIYADH: The Saudi Authority for Industrial Cities and Technology Zones (MODON) has signed an industrial land lease contract in the Third Industrial City in Jeddah to localize the medical supplies industry in the Kingdom, SPA reported on Thursday.
An industrial land lease contract with an area of 20,000 square meters (sqm) was signed in the Third Industrial City in Jeddah with the Mölnlycke Tamer Company, a Saudi-Swedish joint venture between the Tamer Group and Mölnlycke, MODON CEO Khalid Al-Salem said.
The contract aims to establish a project to localize the manufacture of sterile surgical instruments ready for use in operations, he said.
The new project would contribute to the localization of the medical devices and supplies industry, and promote digital transformation in the industrial sector in the context of the trend toward the Fourth Industrial Revolution and the transfer of important technologies to the local market, in addition to increasing job opportunities, training and education for citizens, Al Salem said.
MODON has succeeded in raising the number of factories in this sector in the industrial cities by 150 percent over the past five years, to nearly 173 factories, existing and under construction, up from 64 factories in 2016, the CEO said.
Investment in industrial lands in the industrial cities witnessed 21 percent growth by the end of last year, despite the global economy being affected by the pandemic, as a result of the incentives and facilitating measures that MODON provides to its partners in the private sector, according to Al Salem.
MODON launched for the first time small areas of industrial land between 1,700 sqm and 3,000 sqm to support pioneers, entrepreneurs and small and medium enterprises (SMEs), as the product became ready in many industrial cities with a total of 114 plots of various sizes, he said.