China's TEDA visits Mudon to activate the memorandum on developing industrial cities
The Industrial Cities and Technology Zones Authority (MODON) received today the delegation of the Holding Company for Investment Limited in Tianjin, People's Republic of China (TIDA), which is currently visiting the Kingdom to complete the implementation of the terms of the memorandum of understanding signed between the two sides early last month in China, related to strategic cooperation for the development and management of industrial cities in Saudi Arabia, which aims to enhance the horizon of industrialization in industrial cities and attract investments to them.
The delegation of TEDA, which owns and manages more than 400 million square meters of industrial land in China, visited the Second Industrial City in Riyadh, Sudair Industrial and Business City, and the Second and Third Industrial Cities in Dammam to view the infrastructure projects, existing facilities, road networks and various facilities of supporting services within the two cities.
The visit comes within the scope of the strategic cooperation for the development and management of industrial cities in the Kingdom, which was signed with the Administrative Authority of Tianjin Economic and Technical Development Zone and Tianjin Investment Holding Company Limited (TEDA) in conjunction with the visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince, Second Deputy Prime Minister and Minister of Defense, to the People's Republic of China at the end of last August.
MODON oversees 35 industrial cities across the Kingdom, with a total of more than 182 million square meters of industrial land developed within these cities by the end of 2015.
