Saudi Arabia’s MODON has seen textile investments of SR4.1bn ($1.1bn).
The CEO of the Saudi Authority for Industrial Cities and Technology Zones (MODON), Majed Al-Argoubi, said the volume of industrial investments in textiles and fabrics within the scope of MODON exceeds SR4.1bn.
These investments are distributed over 125 industrial contracts in 19 industrial cities, covering a total area of more than one million square meters.
Saudi textile industry
The announcement was made on the sidelines of the second edition of the Men’s Fabrics and Accessories Exhibition.
The event is sponsored by MODON and being held at the Riyadh International Convention and Exhibition Centre. It aims to strengthen the industry in this sector, which has been witnessing significant growth in recent years.
According to Al-Argoubi, the textiles and men’s supplies sector is experiencing high growth in the Kingdom.
Most of its raw materials are sourced from Saudi Arabia, making it an attractive sector for investments. He added that the industrial sector in the Kingdom is going through remarkable developments, thanks to the support and facilitation provided by the Saudi leadership to invest in value-added projects.
MODON has also prepared advanced infrastructure, supporting logistical services, and several ready-made products and innovative solutions in all regions across the Kingdom and different areas to build factories in various sectors.
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