Agreement signed to study six city industrialization strategy in Saudi Arabia
The Saudi Arabian Basic Industries Corporation (SABIC) and the Saudi Industrial Property Authority (MODON) signed a three-way agreement with the Boston Consulting Group (BCG) in Riyadh on March 12 aimed at developing industrialization strategies for the Saudi cities of Al-Jouf, Tabuk, Hail, Jizan, Najran and Arar. The agreement under which SABIC will be the sole sponsor was signed by Mohamed Al-Mady, SABIC Vice Chairman and Chief Executive Officer; Dr. Tawfig Alrabiah, Director General of MODON and Thomas Bradtke, Partner and Managing Director, BCG.
Commenting on the agreement, Al-Mady said that SABIC is supporting this study to contribute to the development of the industrial sector in Saudi Arabia. He noted, “We have already experienced the establishment of the two industrial cities of Jubail and Yanbu. These cities have seen phenomenal growth over the years, and stand as role models for industrial success in Saudi Arabia. The intention now is to focus on developing the less-developed cities and regions of Saudi Arabia and pave the road to the launching of additional industrial cities.”
Dr. Alrabiah noted that the study will provide up to 300 industrial opportunities involving value-adding and exportable downstream industries that can provide substantial job opportunities for national employment.
The first phase of the study is expected to be completed within 12 weeks. It will incorporate the findings of previous studies, develop a clear understanding of the market potential, examine the attributes of each of the subject cities, identify the most appropriate industries (or combinations of industries), examine the key enablers and develop value propositions for each of the cities for investment attraction.
MODON is a government agency created via the Council of Ministers’ resolution No. 235 dated 27/8/1422H (2001) to establish, develop and operate industrial cities and technology zones in partnership with the private sector.
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