Saudi Arabia’s industrial development agency, Modon, has signed a memorandum of understanding with Al-Imam Muhammad ibn Saud Islamic University to establish a science and technology zone in the university.
The agreement will see the two parties conduct preliminary studies, with Modon providing financial, technical and logistical support.
The study will look at the establishment of laboratories and reverse engineering centres, as well as other industrial projects in the technology zone.
Modon attracted an estimated SR24bn ($6.5bn) in capital investment in its industrial zones in the past year (MEED 15:1:08).
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