Trump expresses ‘great confidence’ in Saudi anti-corruption push

President Donald Trump gives thumbs up, in this Oct. 11, 2017 photo, as he boards Air Force One at Andrews Air Force Base, Md. (AP)
Updated 12 November 2017
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Trump expresses ‘great confidence’ in Saudi anti-corruption push

WASHINGTON: US President Donald Trump expressed “great confidence” in Saudi leaders Monday amid an ongoing anti-corruption push, writing in a tweet, “They know exactly what they are doing.”
In a two-part Twitter message sent from Tokyo, Trump said he has great confidence in King Salman and the crown prince, adding some of the arrested people “have been ‘milking’ their country for years!”

Trump is addressing the arrests of prominent Saudi royals and business leaders ordered by a committee headed by Crown Prince Mohammed bin Salman.
The Saudi government has described the action as a sweeping effort to combat corruption.

It underscores an unprecedented restructuring of the Kingdom as Crown Prince Mohammed bin Salman steps up a dramatic reform drive for a post-oil era.
The US and Saudi Arabia have historically enjoyed close ties, which Trump re-affirmed in May when he visited the country in his first foreign trip since taking office.
Washington and Riyadh announced contracts worth more than $380 billion, including a $110 billion arms deal aimed at countering perceived threats from Iran and militants.
Trump spoke with King Salman by phone on Saturday, according to a readout from his office, in which he lauded the monarch and his son’s “recent public statements regarding the need to build a moderate, peaceful, and tolerant region” and urged the Kingdom to choose Wall Street as a venue for the IPO of oil giant Aramco.


Saudi Arabia’s up-and-coming energy park set to transform KSA into a global industrial powerhouse

Situated in the Kingdom’s Eastern Province, between Dammam and Al-Ahsa, the project will be developed in three phases. (Supplied)
Updated 12 December 2018
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Saudi Arabia’s up-and-coming energy park set to transform KSA into a global industrial powerhouse

  • The first phase is scheduled for completion by 2021
  • SPARK will localize more than 300 new industrial services and facilities and will have specialized training centers to cater to the huge influx of manpower

JEDDAH: Saudi Arabia is fast catching up with the world’s ever-growing energy and technology scene ahead of 2030. In fact, the King Salman Energy Park (SPARK) may soon prove a global destination for energy industry investors.

The new energy city mega-project is being developed by Saudi Aramco, which received authoritization to embark on the initiative in the summer, and is operated, managed and maintained in partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON). 

With projections that the megacity will create more than 100,000 jobs, it is considered one of the most up-and-coming energy parks in the world.

SPARK will localize more than 300 new industrial services and facilities and will have specialized training centers to cater to the huge influx of manpower.

Situated in the Kingdom’s Eastern Province, between Dammam and Al-Ahsa, the project will be developed in three phases. 

The first phase is scheduled for completion by 2021, while the final phase of the project is set for completion in 2035. With all this on track, the 50-square-kilometer project is poised to be a magnet for foreign and domestic investment. 

Crown Prince Mohammed bin Salman inaugurated the King Salman Energy Park at the King Abdulaziz Center for World Culture (Ithra) on Monday. (SPA)

What’s more, Aramco’s espousal of SPARK will also help businesses indulge in technological development, manufacturing and exports channels and build a world-class energy supply chain. Crown Prince Mohammed bin Salman inaugurated the King Salman Energy Park at the King Abdulaziz Center for World Culture (Ithra) on Monday.

During the groundbreaking ceremony, Energy Minister and Aramco Chairman Khalid Al-Falih declared SPARK a special economic zone (SEZ) in which businesses can enjoy exclusive benefits. 

“We are looking forward to collaborating with our first anchor partners at SPARK,” said Saudi Aramco President and CEO, Amin Nasser.

SPARK has already attracted investment from foreign and local companies to produce and manufacture goods and services. The first phase of the project is expected to cost about $1.6 billion. 

The park is set to attract industrial investors in the water, power, petrochemical and wastewater sectors, among others. 

Facilities at SPARK will also help investors bridge gaps in local production back home, increasing competition in the long run. 

“This energy city is exciting because it brings together a multitude of businesses,” Mark McCollum, president and CEO of Weatherford Corp, told SPARK.

“We firmly believe that collaboration and cooperation among service companies and individual providers to the energy sector is vital in breaking new ground.”

The King Salman Energy Park is also set to promote small and medium-sized enterprises. With focus on energy production, it also provides opportunities for investment in residential and commercial real estate projects.

Nasser said that the “King Salman Energy Park will spur a new era of growth for one of the Kingdom’s already thriving sectors. What’s more, it will serve as a central gateway to the region’s economies since Aramco is at the heart of the global oil and gas industry.”