MODON: Mining Processing Factories Grow by 4.36%

By the end of 2023, the number of mining processing factories grew by 4.36%. This increase was a result of significant growth in national and foreign investment attractions and developmental initiatives.

The initiatives were launched in industrial cities under the supervision of the Saudi Authority for Industrial Cities and Technology Zones MODON, reported Saudi Press Agency.

It aims to create added value from the Kingdom’s natural resources and maximize economic impact.

International Mining Conference

This announcement came on the sidelines of MODON’s participation in the third edition of the International Mining Conference.

The King Abdulaziz International Conference Center is hosting the conference in Riyadh from January 9-11. The event brought together leaders, decision-makers, and mining sector experts at local, regional, and global levels.

The participants are discussing international metal and mineral supplies and achieving future economic growth and prosperity.

MODON revealed that the number of mining processing factories recorded during the year was about 1,629 factories with cumulative investments exceeding 95 billion Riyals and allocated areas of 21 million square meters.

Ranking of Cities

Jeddah had the highest number of contracts with a total of 482 factories in the first, second, and third industrial cities and MODON Oasis in Jeddah. Following Jeddah came Dammam with about 391 factories, then Riyadh with 199.

Moreover, MODON highlighted that mining industries occupy an important space in the national industrial strategy, necessitating their development and considering their enabling role for other sectors to achieve comprehensive development.

The most prominent investment opportunities are concentrated in industries like machinery and equipment for the mining sector.

Furthermore, industrial cities under MODON’s supervision contribute to enhancing local content with various quality industries. These industries include cable manufacturing, glass, stone, marble, granite, steel iron, aluminum sheets, ceramics, as well as ready-mix concrete and building materials .

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