(MENAFN - Arab News) King Abdullah Economic City (KAEC) recently announced a new land plot signing with Zad National Ltd. for the purchase of 22000 sqm in KAEC's Industrial Valley-phase 1 to build a manufacturing facility for the production of various types of sweets. The contract was signed by Prince Abdullah bin Saud bin Mohammed bin Abdulaziz chairman of the board of Al-Ahlam Holding Group and ZAD National Company and Rayan Qutub COO of the Industrial Valley in KAEC.
Following the signing the prince expressed his pride in supporting the city's economic development and contributing to achieving its vision and objectives noting that the new industrial establishment for Zad National will manufacture traditional Turkish sweets and coffee as well as producing various types of chocolate oriental and Western desserts under the internationally known MADO brand.
The prince said: "We are looking forward to start the construction of the plant as soon as possible to expand our business and strengthen our partnership with MADO in order to provide local consumers and export to neighboring countries with high quality products.'
Adding his comments Fahd Al-Rasheed MD and CEO of KAEC said: 'The investments demand in the city is experiencing a noticeable increase and we are receiving special attention from local investors which reinforces KAEC's socioeconomic role and strengthens our commitment to providing employment opportunities for the next generation of national cadres and housing solutions with comprehensive integrated public services."
He added: "We have made great efforts to secure a modern infrastructure that supports the requirements of current and future investors in the Industrial Valley as part of our constant effort to advance the position occupied by KAEC as a major destination for investment especially in the FMCG sector and logistics services in the region."
Qutub expressed his pride at the accelerated pace of selling and leasing lands in the Industrial Valley.