Industrial Fund and Modon supporting land and loan product

The Saudi Industrial Property Authority “MODON” and Saudi Industrial Development Fund signed yesterday, memorandum of understanding to enhance cooperation and complementarity in supporting the industrial system through companied action, to provide a number of products and services that meet the needs of industrial investors, in the presence of Minister of Energy, Industry and Mineral Resources Eng. Khalid Al-Falih. The agreement included the activation and support of a product (land and industrial loan), which allows the investor to apply for industrial land and financing together, as a standard industrial package. Al-Falih said the memo comes within the system of industrial integration to develop and improve performance in the sector and enable it to take its role as one of the most important pillars of the future development of the Kingdom. Stressing the determination of the industrial system to move forward in integration, overcoming the obstacles facing the industrial sector, and supporting industrialization and its drive towards overall quality and raising the standards and level of the services provided to industrialists and investors.