ABB agrees $40m deal for Saudi GIS factory
MODON concludes contract with power firm for new Dammam facility
Saudi industrial Property Authority (MODON) has agreed a US $40 million deal with ABB for the construction of a new industrial facility in Dammam. The factory, the first of its kind in the region, will be used to manufacture Gas Insulated Switchgear and maintain electrical transformers.
The project will see the facility built on a 40,000 square metre plot, and will create over 300 jobs when opened in the middle of next year.
The scheme also includes a new Ground Power Unit (GPU) production unit , aimed at meeting the rising demand for supporting a reliable electricity network in the region. The firms say that GCC customers will benefits from faster delivery, together with after-sales service focused on the region’s needs.
“The size of the huge demand for industrial land in the Eastern region is a strong indication for the future of promising industrial growth, will make the Kingdom’s economy non dependent on oil and achieve the vision of the Custodian of the Two Holy Mosques, who announced industry as a strategic option to diversify its source of income,” said MODON Acting Director General, Saleh Bin Ibrahim Al-Rasheed.