The Energy City Development Company (ECDC) and Hutchison Ports have signed an MoU to jointly develop, market and operate the Logistics Zone and Dry Port within the King Salman Energy Park (SPARK), a 50-square-kilometer multibillion-dollar mixed-use development in Saudi Arabia.
SPARK is a hub designed to help bring the energy sector value chain together to drive efficiencies, promote innovation, and support the growth of businesses.
The Logistics Zone is a core component of SPARK, occupying an area of over 300 ha. It will offer a full range of logistics services to industrial tenants and third party cargo owners including a bonded area for international cargo, dedicated customs clearance services, a state-of-the-art automated container terminal, and multi-modal connectivity via road and rail. The Logistics Zone is designed to support Saudi Arabia’s vision and its role as an integral driver of international trade to connect three continents.
The agreement was signed by Saif S. Al-Qahtani, president and CEO, SPARK and Andy Tsoi, managing director for Hutchison Ports Middle East and Africa.
Al-Qahtani said: “We are pleased to announce this important milestone. SPARK is a visionary project that is a core part of Saudi Vision 2030. We aim to create the ideal environment for energy sector businesses, and logistics is a key enabler for this industry. To achieve our ambitious goals, we are seeking to partner with the best in each field and Hutchison is a leader in this field.”
Tsoi added: “Hutchison is proud to have reached this agreement with SPARK and looks forward to building and operating a facility that will support Vision 2030 initiatives and we continue to ensure our investments in Saudi Arabia bring the latest technology to all activities. We look forward also to providing exciting opportunities for talented Saudis to develop advanced logistics skills and experiences.”