Media ININ Economy We Trust
Media In / Riyadh January 30,
The Saudi Organization for Industrial Estates and Technology Areas (MODON) has signed four strategic cooperation agreements with the Saudi Electricity Company, the Social Development Bank and a tripartite partnership agreement with the Saudi Industrial Development Fund, King Abdulaziz City for Science and Technology and an agreement with Saudi General Electric.
The first cooperation agreement between Madan and the Saudi Electricity Company, signed by Al Salem and the Executive Chairman of the Saudi Electricity Company Fahd Bin Hussein Al Sudairy, was an extension of the strategic partnership between the company and the industrial sector for more than thirty years. Cities “in the industrial cities 4 billion riyals with a capacity of more than 7000 MVA.
The agreement aims to complement the partnership between the two sides in providing and strengthening electricity services in industrial cities through the construction of new conversion stations for a number of cities, which is one of the most important pillars of the Kingdom’s vision.
2030, and the National Industrial Development and Logistics Program.
The second agreement, signed by Eng. Al Salem and the Director General of the Social Development Bank, Ibrahim Al-Rashed, aims to build a strategic relationship between the two parties that supports the objectives of both sides and contributes to supporting small enterprises and developing the promising industrial cities in the Kingdom by participating in supporting projects that serve these objectives. And provide any other services that will achieve the objectives of the parties in the industrial cities of “cities” located throughout the Kingdom.
Under the agreement, the Bank will provide financial services in the form of financing small enterprises with various incentives for beneficiaries and various awareness and guidance programs, and a framework for cooperation between the two parties. This will include defining the expected roles of each party through specific initiatives. Providing prefabricated buildings and various solutions.
The third agreement was to be a link to the initiative of “Cities” to create 100 factories for the transformation of the fourth industrial revolution, where the “cities” to carry out the detailed study of each plant and then put the road map of the digital transformation and expected return on investment. All requirements The factory is funded to support the full digital transformation of manufacturing operations. The role of “City” as a consultant to provide technical support, training and evaluation of targeted technologies in the factories projects according to the results of the detailed study.
It is worth mentioning that the detailed study to prepare 100 factories towards the transformation of the 4th industrial revolution in order to accelerate the digital industrial capabilities and enhance the productivity of the factories will be implemented by Madan in partnership with General Electric Company. Eng. Al Salem signed the fourth agreement on the sidelines of the launch of Ndelib with the president and secretary CEO of General Electric Saudi Arabia, Eng. Hisham Bahkali, all of which comes within the framework of its commitment to empower the industry in the Kingdom.
