King Abdullah Economic City (KAEC) recently signed a contract with Ghazi Abdullah Abbar and Partners Co. Ltd (GAA & Partners Co), one of the FMCG leaders in KSA, for an Industrial land plot in KAEC's Industrial Valley-phase 3 aiming at initiating its expansion plans and provide more job opportunities for the Saudis cadres. The contract includes a land plot of 65,428-square-meter for the construction of a distribution and logistics center, also building light industries facility to process and package food products. It is expected that the development of the new industrial facilities will take two to three years. The signing ceremony was between Fahd Al-Rasheed, Group CEO and managing director of KAEC, and Ghazi Abbar, CEO of Ghazi Abdullah Abbar and Partners Co. Ltd. Al-Rasheed pointed out that (GAA & Partners Co.) is one of the Kingdom's most important and pioneering national companies. He said: “We are very pleased to have (GAA & Partners Co.) among the biggest national and international companies that the Industrial Valley has succeeded in attracting them to invest as part of their expansion plans.” Al-Rasheed added: ”This contract will double the number of job opportunities for the Saudi cadres, and open new distribution and expansions advantages for the company's product throughout the Kingdom.” Expressing his pride at the contract signing, Ghazi Abbar said: “The company's investment in the Industrial Valley is a major step towards expanding its business operations. We are delighted to become part of this mega development project that opens promising new horizons for the Saudi economy and offers a wide range of options for the investors.” Abbar added: “Our new facility in the IV will not only serve our business, but will also provide jobs opportunities for the Saudi nationals. For decades, Abbar has been a household name in the Kingdom and we intend to keep the confidence of our customers by developing our business further ensuring that our products are served on each Saudi family dining table.” Rayan Qutub, CEO of the Industrial Valley in KAEC, said that IV-phase 3 enjoys a highly advanced infrastructure that meets the requirements of the company and is more than capable of helping it to grow and prosper. “Saudi Arabia accounts for 60% of the food consumption and 75% of food processing in the Gulf region, and therefore we have developed the Industrial Valley as the new value-added logistics and manufacturing hub with all the advantages of an unrivalled strategic location, and this has what made us look forward to attract leading national and international companies,” he said. He also noted that GAA & Partners Co. is one of the Kingdom's biggest national companies with a range of brands that are long established favorites among consumers in Saudi Arabia. GAA & Partners Co. will be an important addition to the FMCG cluster in the Industrial Valley. Qutub added: ”IV continues to endure the rapidly increasing demand on lease and freehold industrial lands, as well as attracting local and international companies of which to date we have 9 already in operation and 26 others under construction.” He said: “The Industrial Valley enjoys advanced infrastructure includes comprehensive water and power grids, sewage, telecommunications, storm runoff and road networks, including a complete range of facilities and housing solutions such as ‘The Village' project, which provides proper housing to workers and supervisors.” — SG
