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 The Custodian of the Two Holy Mosques oversees "Waad Al Shamal" and launches a range of new industrial projects

26 Nov 2018

The Custodian of the Two Holy Mosques, King Salman bin Abdul Aziz Al Saud visited the city Waad Al Shamal for mining industries, where he briefed on the latest developments in the city, and opened a number of mining and industrial projects, which will be an important value added to the GDP in the Kingdom and provides more opportunities for employment, rehabilitation and training for Saudi young men and women. The cost of existing and future projects in the city is more than 450 million riyals, including the development of infrastructure, buildings, services and public facilities. Commenting on this auspicious visit, His Excellency the Director General of MODON, Eng. Khalid Bin Mohammed Al Salem, expressed his deep appreciation and gratitude to the Custodian of the Two Holy Mosques, pointing out that the project of "Waad Al Shamal" would not have been seen without his wise vision and his keenness on everything that would Raising the industrial sector and boosting its growth. Al-Salem explained that MODON is working on developing the infrastructure of the industrial zone in the "Waad Al Shamal" with an area of 4.5 million square meters, including supporting services, and light, medium and heavy industries. He added that thanks to the support of the wise leadership represented by the Custodian of the Two Holy Mosques and His Crown Prince, the city of "Waad Al Shamal" has been able to attract a number of leading Saudi companies for its development and investment, namely: Ma'aden, Saudi Aramco, Saudi Electricity Company, and the Saudi Railway Company. The area of "Waad Al Shamal" for mining industries on an area of 290 square kilometers in the northeast of the city of Tarif in the northern border area, it is strategically located because of its proximity to the expert's phosphate mine and its connection to the railway. Development is expected to be completed over the next 30 years. The master plan has been designed to be in line with the city's development plan. The first phase of the plan's master plan, including the residential area, and now is working on the second phase of the development of the industrial zone and part of the residential area is now under way. In pursuit from "MODON" to support the investors, has divided the stages of work and identified priority areas, as well as the stimulus packages that contribute together to accelerate the development and provision of services to investors to be able to start their industrial activity in a short period of time, especially the possibility of leasing industrial land for long periods, attractive prices and access to Financial facilities, government loans, up to 75% of the cost of the project, in addition to the customs exemption for machinery, equipment and raw materials involved in industrial activity, and the delivery of the land within a short period from the date of submitting the application electronically through MODON website.
Last Update 18 Dec 2018 11:47 PM