As part of its continued efforts to develop its business in the region's markets, and contribute to the diversification of the Saudi economy, in line with Vision 2030, Al Salem Johnson Controls (YORK) has announced the relocation of its new factory to the KAEC Industrial Valley - one of the world's largest economic projects managed by the private sector. The new factory will take advantage of the logistic services provided by King Abdullah Port - the second largest port in the Kingdom - to increase its exports. Al Salem Johnson Controls has signed three agreements for expanding its exports and business growth by reaching new markets in the region. The first agreement will expand its strategic partnership with Johnson Controls International, and will enable it to manage other operations in different countries within the Region. The second agreement was signed with King Abdullah Economic City (KAEC) to relocate its new factory to the Industrial Valley, which is now the fastest growing logistics and industrial hub in the Region, and one of the most attractive destinations for local, regional and international companies. The third agreement states that it will benefit from the services provided by King Abdullah Port in increasing and accelerating the export of its products to various countries in the Region. CEO of Al Salem Johnson Controls Dr. Mohanad Al Shaikh pointed out that the strategic partnership's expansion with Johnson Controls International, in addition to operating a factory in the economic city, will enhance the Company's leading role to realize the objective of Vision 2030, and will develop local content and grow its business. Al Shaikh said "the factory's new location at KAEC will broaden our exports to the regional and international markets, by taking advantage of the strategic shipping routes of King Abdullah Port in the Red Sea Region". He added: "The company's factory in the economic city will contribute in providing advanced technologies to the Kingdom, providing support to the region's projects, and achieving the ambitious vision of localizing the industry and creating job opportunities for Saudi youth of both genders." Ahmed Linjawy, Group CEO at KAEC, expressed his pleasure at the signing with Al Salem Johnson Controls (YORK) to relocate its factory to the Industrial Valley. Ahmed Linjawy said, "The Economic City is a vital example of the post-oil economy and one of the fundamentals of economic development in the Kingdom. Today, the Industrial Valley is an attractive destination for investment in the Kingdom, and one of the pillars of the ambitious Vision 2030." While talking about developing and diversifying the Saudi economy, he pointed out that investment in King Abdullah Economic City in general has promising prospects, an engine for business growth, and an important source of quality employment opportunities for local competencies. On his part, Eng. Ayman Mansi, CEO of Industrial Valley at the Economic City, explained that the Industrial Valley's strategic location and direct access to King Abdullah Port, which is a major destination and an advanced point of supply for logistics and industries in the Region, will provide access to 250 million consumers in the Arab world and East Africa. Additionally, the Industrial Valley has attracted more than 116 national, regional, and international companies operating in the industrial and logistics sectors, and "we look forward to becoming a major industrial park, and a preferred location for ambitious companies wishing to establish or expand their activities." King Abdullah Economic City's CEO, Mr. Rayan Qutb, welcomed the signing of the agreement which allows Al Salem Johnson Controls (YORK) to benefit from the logistics services provided by King Abdullah Port. He highlighted that "The signing of the agreements with King Abdullah Port, the second largest port In the Kingdom and the second fastest growing port in the World, comes within the framework of activating the strategic partnerships that we are consolidating in the port in parallel with the public and private sectors." He further explained, "King Abdullah Port, the first privately owned, developed, and operated port in the Kingdom and the Region, aims to contribute to the achievement of the objectives of the Kingdom's Vision 2030 in general, and the National Industrial Development and Logistics Program in particular, which provides for export support and the development of logistics services to transform the Kingdom to a unique industrial and logistic platform between the three continents." — SG
