Madinah Governor Inaugurates SAR 455 Million Industrial And Logistics Projects To Boost Investment

Prince Salman bin Sultan bin Abdulaziz, the Governor of Madinah Region, recently initiated and laid the foundation for various new projects in the industrial city. These projects, valued at over SAR455 million, focus on industrial, logistics, and development sectors. The event was attended by key figures including Minister of Industry and Mineral Resources Bandar Alkhorayef and MODON CEO Majed Al-Argoubi.

The governor highlighted that these initiatives reflect the Saudi leadership's ongoing commitment to supporting the Kingdom's industrial cities. This support is crucial for fostering industrial growth and attracting quality investments. He noted that Madinah's strategic location and rapid expansion in factories and investment contracts align with Saudi Vision 2030 goals. These goals aim to diversify the economy and create quality opportunities for local citizens.

Among the significant investments are three infrastructure development projects aimed at enhancing basic services' efficiency. These projects are budgeted at over SAR367 million. They are designed to improve the city's readiness for investment, making it more attractive to potential investors.

Additionally, 16 new smart-designed warehouses were inaugurated as part of a larger logistics project. These warehouses range from 860 to 1,000 square meters and are budgeted at over SAR15 million. In total, this project will feature 46 warehouses covering 100,000 square meters to meet growing logistics demands.

The foundation stone was also laid for 20 new ready-built factories, each measuring 1,500 square meters. This initiative is part of a larger project covering 190,000 square meters with a budget exceeding SAR50 million. It aims to empower both male and female entrepreneurs by providing them with essential infrastructure.

A human-centered project was launched with a budget of over SAR22 million. This includes constructing a mosque and enhancing the aesthetic lighting of nearby mountains. The goal is to develop industrial cities while improving residents' quality of life.

The comprehensive approach taken in these projects underscores their importance in achieving economic diversification and regional development goals outlined in Saudi Vision 2030. By focusing on infrastructure improvements and community enhancements, these initiatives aim to create a thriving environment for businesses and residents alike.

With inputs from SPA