The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed an agreement with Eva Pharma, one of the fastest-growing pharmaceutical companies in the Middle East in Africa, to build an industrial complex for pharmaceutical manufacturing and research.
The agreement aims to develop pharmaceutical industries capable of delivering pharmaceutical security, enabling the Kingdom of Saudi Arabia to hold its position as an industrial power and logistics hub for vaccines and medicines.
Under the agreement, Modon has allocated 50,000 square meters of industrial land in Sudair city for industry and business to establish an industrial complex to produce more than 150 pharmaceutical products, manufacturing 990 million units a year.
The agreement also envisages consolidating technologies provided by the complex’s Research and Development Center and working with universities and hospitals in the Kingdom to ensure a rapid response to production requirements.
Modon seeks to be the preferred destination for investment growth and the first partner of the industrial and technical entities, as stated in its vision statement, by providing an attractive industrial environment that increases the competitiveness of the sector locally and internationally. It also aims to enhance the value of local content and support nationally manufactured products in partnership with public and private sectors and line with the National Industrial Strategy goals of Saudi Vision 2030.
Recently, Modon signed a $133 million investment agreement with the Vaccine Industrial Company (Vaccine) to set up a joint venture factory in Sadeer City to strengthen the pharmaceutical security system and localize the manufacturing of vaccines and vital medicines in the Kingdom.
