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Saudi Industrial Property Authority (Modon) announced that it has signed two contracts worth US$350mn with the Saudi Electricity Company (SEC) for the delivery of electricity to the 3rd Industrial City in Jeddah and the 3rd Industrial City in Dammam.
The agreements and contracts were signed by Modon's Director General, Dr. Tawfiq bin Fauzan Al-Rabiah, and by the Saudi Electricity Company's Chief Executive Officer Ali bin Saleh Al-Barrak.
Dr. Al-Rabiah said in a statement that Modon will construct the power stations, while the SEC will establish electricity grid wires.
Eng. Khamis Bin Saleh Al-Ghamdi, Director Project Department, said that these projects had come about due to the cooperation between both companies to meet the energy demands of these huge industrial cities.
Modon is currently designing plans for the new industrial cities, in Jeddah and in Dammam, where recently the designing contracts have been signed with two international companies specialised in designing and planning of industrial cities.