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.”


Majlis culture brings a little Saudi warmth to freezing Davos

At a five-star hotel in Davos, the Saudi Arabia General Investment Authority has sponsored a prominent display proclaiming ‘The future-forward economy — Invest Saudi.’ (AN photo)
Updated 23 January 2019
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Majlis culture brings a little Saudi warmth to freezing Davos

  • The Misk Pavilion is one of the many signs of the Kingdom’s enthusiastic involvement in the world’s biggest gathering of political, business and thought leaders

DAVOS: From the sub-zero temperatures of the icy Davos Promenade you are ushered through a glass door into the warmth of a desert majlis, with works by young Saudi artists on the walls and traditional Arabian delicacies being served. It is quite a culture shock.

The Davos majlis is the work of the Misk Global Forum (MGF), the international arm of the organization founded by Crown Prince Mohammed bin Salman to promote youth empowerment. 

The Misk Pavilion is one of the many signs of the Kingdom’s enthusiastic involvement in the world’s biggest gathering of political, business and thought leaders.

“The Kingdom’s participation in WEF 2019 highlights its role in developing the regional and global economy, and reflects the nation’s continuing ambition for sustainable development,” said Bader Al-Asaker, head of the crown prince’s private office and chairman of the Misk Initiatives Center. 

The Saudi delegation’s HQ overlooks the main congress hall, inside the Davos security cordon. 

At a nearby five-star hotel, the Saudi Arabia General Investment Authority has sponsored a prominent display proclaiming: “The future-forward economy — Invest Saudi.” 

This is the second year Misk has been prominent at Davos. As well as the majlis, its pavilion offers visitors the chance to immerse themselves in modern Saudi art via a virtual reality tour of the work of four young artists.

Misk is organizing daily events there, building up to a power breakfast with leading executives on Friday on the theme of youth empowerment.

“In an age of profound economic disruption, we regard young people as the problem-solvers, not a problem to be solved,” said MGF executive manager Shaima Hamidaddin.

“We’re holding interactive discussions on how to empower young people to be the architects of the future economy, not the tenants of it.”