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Eye of Dubai
Business & Money | Tuesday 28 May, 2024 11:28 am |

“SADAFCO” Announces Signing a Long-term Lease with Saudi Authority for Industrial Cities and Technology Zones (Modon) in Jazan

Saudia Dairy and Food Stuff Company (SADAFCO), a manufacturer, seller, and distributor in the food sector in the Kingdom of Saudi Arabia, announced that it has signed a long-term lease contract with the Saudi Authority for Industrial Cities and Technology Zones (Modon) in the city of Jazan for an area of more than 15,000 square meters.


The announcement was made during the “Saudi Food Show” held in Riyadh. The agreement was signed by Talal Alnounou, Director of Public Relations & Government Relations at SADAFCO, and Majed Rafed Al-Argoubi, CEO of the Saudi Authority for Industrial Cities and Technology Zones (Modon). SADAFCO aims to expand the company's facilities by establishing a new warehouse in the city of Jazan to meet the increasing demand from its corporate and consumer clients, reduce costs, and raise the efficiency of its supply chains.


Talal Alnounou expressed his happiness at announcing the signing of the agreement with “Modon” to expand the company’s facilities by establishing a new warehouse in the city of Jazan. This initiative aligns with SADAFCO’s strategy to expand within the Kingdom and operate additional locations. He pointed out that the company operates world-class manufacturing facilities in the Kingdom and has a wide sales and distribution network extending throughout the region. He said: “We are focusing our current efforts on meeting the needs of our customers and expanding our product range in the future with a focus on sustainability, in line with the Kingdom’s Vision 2030 and the National Industrial Development and Logistics Services Program.


CEO of Modon, Eng. Majed Rafed Al-Argoubi, commented that the agreement signed between the authority and “SADAFCO” aligns with plans to attract additional investments in the food industry, in line with the goals of the National Strategy for Industry to achieve food security and enhance exports. He added that Modon witnessed significant growth in the number of factories operating in the food industry, reaching 1,300 factories by the end of the first quarter of 2024, representing more than 20% of the total number of factories, which exceeds 6,500.


This announcement coincides with “SADAFCO” achieving several notable milestones recently. The company announced a significant enhancement of shareholder returns by doubling the proposed profits for the nine months ending on December 31, 2023. This step confirms the company’s strong financial performance despite the shortened financial year due to a change in the calendar, demonstrating the strength of its brand. Additionally, the company recently opened a new depot in Makkah, covering a total area of 8,000 square meters


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