King Abdullah Economic City (KAEC) has signed a contract with The International Trade Gateway Co. Ltd. (ITG) for the purchase of a 9,000sqm area of land located in Phase 1 of the Industrial Valley at KAEC. The land will be used to build a high voltage cable factory to international standards, and will be the first of its kind in the Economic City.
“We are proud that KAEC, through the Industrial Valley and other components, is establishing itself as the go-to destination for national, regional, and global investors who will enable us to move forward towards achieving the government’s strategic vision for the city,” said Mr. Fahd Al-Rasheed, Group CEO and Managing Director of KAEC. One of the strategic advantages of the Industrial Valley is its direct link to King Abdullah Port, which greatly increases the efficiency of imports/exports and manufacturing.
“We will develop a new production facility that will expand our services and propel our strategic plans. We have determined that KAEC’s Industrial Valley is the ideal location from which to expand our business and reach a wider group of investors due to the strategic location, ease of procedures for new investments, and high quality infrastructure,” said Mr. Khalid Makki, President of ITG. He underlined the company’s manufacturing capabilities and the value it will add to the city, thanks to its commitment to the highest standards of quality for its production lines in cabling, conductors, conveyers, transformers, control boards, and lighting.
“The Industrial Valley offers world-class infrastructure and a wide range of tailored business solutions, supported by comprehensive facilities, including The Village, a customized accommodation solution for workers and supervisors,” said Mr. Rayan Qutub, CEO of the Industrial Valley.
The Industrial Valley has attracted 120 national and global corporations so far, and the construction material production sector is considered one of the six target sectors for the Industrial Valley.