Saudi Industrial Property Authority (Modon) has inaugurated the 1,000 MW (380 kV) central electric converter station in Madinah Industrial City which has been built at a cost of SR441 million ($117 million).

Modon said the setting up of the station came within its pursuit to provide comprehensive services to the industrial cities, in support of the development of the industry in Saudi Arabia.

The station, which has been set up in 26 months, will drastically contribute to the promotion of electrical energy in the industrial city of Madinah, it added.

According to Modon, there has been an overwhelming response from investors and many have sought allocation requests for industrial lands. The station will contribute to meet the current and future needs for electricity in the industrial city, it stated.

There are more than 230 existing and under-construction factories in the industrial city of Madinah, said the statement from Modon.

The abundance of basic raw materials for the manufacture of metals and building materials in the industrial city, which was established in 2003, has contributed to attracting a lot of specialised projects and qualitative investments to the industrial city, it added.-TradeArabia News Service