Estimated investment at Saudi Arabian industrial zone totals $667m
Seventy-one potential investors have been interviewed by the Saudi Industrial Property Authority (Modon) for the right to be allocated land in Sudair City for Industry and Business (Sudair) in Saudi Arabia.
In a statement, Ali al-Suhaibani, industrial cities manager and supervisor of the committee for allocation of industrial land, said the estimated investment for the 71 interviewees totals about SR2.5bn ($667m).
When construction of the first phase is completed, Sudair, located 120 kilometres north of Riyadh, will be the largest industrial city in the region and have an area of about 16 million square metres.
Sudair will have an area of 265 square kilometres and is expected to accommodate 600 industrial projects and create 40,000 job opportunities when completed.