New investments into the Jeddah 2nd Industrial City in Saudi Arabia are expected to total $1 billion (SR4 billion), it was announced on Thursday. The Saudi Industrial Property Authority's (Modon) decided to allocate 1.7 million m2 of land to industrial projects to be built in the area. Dr Tawfig Bin Fawzan Alrabiah, director general of Modon, signed land allocation decisions for 163 factories, each expecting to cost between $266,000 and $1 million. Modon is working to develop Jeddah 2nd Industrial City along with a range of projects costing up to $532 million upon completed. The latest project includes a district cooling service, which will provide the industrial city with approximately 100,000 tons of cooling services and produce an electric energy amounting to 80MW. A steam network will also be made for the first time in the industrial cities. These services will help reduce costs to factories and provide a unique and distinct service that helps to save energy, preserve the environment and increase productivity. Major infrastructure projects are planned to be completed in the city within two years. Alrabiah emphasized that the industrial lands are available in many of the existing industrial cities, which are under development at incentive rates, whether domestic or foreign investments and in different industrial, commercial, residential and service sectors. Other projects are the establishment of an integrated network of roads, sidewalks, parking, guidance boards, farming and landscaping, potable water networks, sewage networks, and a range of treatment plants for treating and pumping sewage water, irrigation water tanks, agriculture irrigation networks and drainage networks, rainwater collection channels, sub power plants, distribution network of electric power, street lighting systems, communication systems and information technology systems. Major infrastructure projects are planned to be completed within two years. Industrial cities are spread in the various regions of Saudi Arabia (Riyadh 1&2, Jeddah 1&2, Dammam 1&2, Makkah, Qassim, Al-Ahsa, Madinah, Asir, Al-Jouf, Tabuk, Hail, Najran, Al-Kharj, Jizan, Arar). Development projects have been launched to develop new cities in Sudair , Zulfi, Al-Taif. Modon had taken into account in the designing of the development of the project using the best standards and technical specifications that help facilitate the operations of the factories and goods transport movement within the industrial city. Jeddah 2nd. Industrial City is one of the major projects of the Kingdom with an area of eight million square meters. It is characterized by its location where it is located 35 km south of Jeddah city on Jeddah - Leeth - Jizan Highway. Modon has set up 18 industrial cities in various regions of the Kingdom with a total area of approximately 237 million squares in Riyadh, Jeddah, Dammam, Makkah, Qassim, Ahsa, Madinah, Assir, Al Jouf, Tabuk, Hail, Najran, Al-Kharj, Jazan, and Ar'ar. The investment in these cities exceeds SR200 billion and more than 300 thousand workers are employed in these areas. – SGModon is also responsible to create ideal environment for developing and upgrading Technology zones in the Kingdom of Saudi Arabia.Jeddah 2nd Industrial City is one of the major projects of the Kingdom with an area of eight million m2. - SG/Agencies Meanwhile, Kingdom Holding Co Chairman Prince Alwaleed bin Talal has topped Arabian Business Magazine's 50 Richest Saudis List for 2009. – SGThe magazine described Alwaleed as “the world's richest Arab and the Middle East's most high-profile businessman.” The prince is known for exploring new and potential business opportunities and ventures in synchronization with the direction and fluctuations of the economic climate. __
