SABIC, Modon BCG Consulting study six cities in Saudi

SABIC, Modon and BCG Consulting to study six cities in Saudi

12:49 PM, 17th June 2011
SABIC, Modon and BCG Consulting to study six cities in Saudi
Mohamed Al-Mady,Vice Chairman and CEO, SABIC

Together the companies will study the potential to develop six industrial centres in Saudi. This will help develop new towns and even create job opportunities for citizens. With the support of Modon, BCG will carry out the study. 

RIYADH, SAUDI ARABIA: Saudi Basic Industries Corp (SABIC) and the Saudi Industrial Property Authority (Modon) signed a three-way deal with Boston Consulting Group International (BCG) to conduct a study to develop six cities in the kingdom.

Mohamed Al-Mady,Vice Chairman and CEO SABIC, Modon Director-General Tawfig Al-Rabiah, and Boston Consulting GroupBoston Consulting Group MD Thomas Bradtke signed the agreement headquarters in Riyadh. The cities earmarked for the industrialization programme are Al-Jouf, Tabuk, Hail, Jazan, Najran and Arar.

“The study will provide for around 300 industrial ventures involving value-added and exportable downstream industries that can provide substantial job opportunities for nationals. This will help develop clear understanding of the market potential and examine the attributes of each of the subject cities,” Al-Rabiah told journalists after the signing ceremony. The first phase of the study is expected to be completed within 12 weeks, he added.

“The findings of the study would be implemented through private sector participation. SABIC is supporting this study to contribute to the development of Saudi Arabia’s industrial sector,” said Al-Mady.

© Arab News 2011

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