Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a memorandum of understanding (MoU) with Mars GCC FZE, the Middle East subsidiary of Mars Inc, to open a full-fledged manufacturing plant of Mars in the Industrial Zone of KAEC. The MoU follows the recent visit of King Abdullah, the Custodian of the Two Holy Mosques, to KAEC, when major international and local investment projects worth over SR130 billion were announced. Fahd Al-Rasheed, chief executive officer and board member, Emaar.E.C, and Ahmed Bayoumi, general manager of Mars GCC FZE, signed the MoU in Jeddah, recently. The world's leading confectionary manufacturer with several established brands, Mars will undertake feasibility studies to evaluate the potentials of the manufacturing plant, which is expected to serve as a regional hub for the company. The details of investment, job opportunities created and production processes will be announced after completion of the studies. Al-Rasheed said: “KAEC has established itself as the most attractive investment destination for industries across the board. Mars is a leader in the confectionary sector, and the MoU underscores the increasing acceptance by international manufacturers to establish a base in the Kingdom. KAEC not only offers an advanced industrial infrastructure, the seaport being developed as part of the project will give manufacturers in KAEC superior logistical advantages.” Abdel Hakim Hakim, general manager, Mars Saudi, said: “We are proud to join hands with KAEC, a development that reflects the vision of King Abdullah, the Custodian of the Two Holy Mosques, in providing a modern lifestyle. KAEC offers a strong platform for growth by offering an environment that supports industries and marketing.” “Mars GCC is a leader in the regional confectionary business, and our potential expansion to KAEC will further help us to consolidate our market reach apart from building a manufacturing hub to serve the entire Middle East and North Africa region. We are committed to contributing to the economic growth in the Kingdom and in playing an active role towards the prosperity of the Saudi society,” he added. Mars GCC works with local governments and decision makers to provide consultation to enhance quality and safety standards in the food industry, led by the five core values that have built the success of Mars. These values include: quality, responsibility, exchange, efficiency and freedom. Mars is committed to serving communities by establishing joint relations with official sectors, organizations, employees, suppliers and customers based on mutual honesty and trust. Launched to strong investor response, the Industrial Zone in KAEC spreads over 63 million square meters and features 4,400 net hectares of land dedicated to industries and light manufacturing facilities. Recently, King Abdullah unveiled the KAEC Plastics Valley in the Industrial Zone. Designed solely with the needs of manufacturers in mind, the zone will have over 2,500 industrialists and manufacturers. KAEC is the single largest private sector development in the region and has five other zones - the seaport, central business district, educational zone, resort district and residential communities. Work is progressing on the first phase including the seaport, industrial zone and residential communities, at an accelerated pace. __
