King Salman Energy Park announces key investment

King Salman Energy Park (SPARK) has announced the signing of five key investment commitments by new tenants who will develop industrial facilities, factories and services centers at SPARK to serve the oil and gas and energy sector in the Kingdom and the GCC. (SPA)
Short Url
Updated 01 March 2020

King Salman Energy Park announces key investment

  • Five key investment commitments by new tenants who will develop industrial facilities, factories and services
  • Agreements were signed at Saudi Aramco’s 5th annual iktva

JEDDAH: King Salman Energy Park (SPARK) has announced the signing of five key investment commitments by new tenants who will develop industrial facilities, factories and services centers at SPARK to serve the oil and gas and energy sector in the Kingdom and the Gulf Cooperation Council.

The agreements were signed at Saudi Aramco’s 5th annual iktva (In-Kingdom Total Value Add) forum in the presence of SPARK’s Chairman Mohammed A-Qahtani.

More than 70 exhibitors, 14 government entities, and eight international energy partners attended the iktva Forum and Exhibition 2020 at the Dhahran Expo center.

Al-Qahtani said: “We are delighted to announce these new partnerships with both local and international investors. This represents a significant contribution to localizing value creation through dedicated industrial development.”

Meanwhile, Energy City Development Company (ECDC), the owner and developer of SPARK and ENGIE Cofely, an international leader in providing zero-carbon energy and integrated facilities management, and International Maritime Industries (IMI) have announced the signing of an agreement to act as a facilities management adviser and a training provider for SPARK and IMI.

SPARK offers streamlined and cost-effective operations near major workforce providers close to transport networks. The location also helps integration with Dammam’s 3rd Industrial City, as well as proximity to power generation and water sources, and logistical services. 

Al-Qahtani said: “The partnership with ENGIE Cofely will support us in providing international standard services to our tenants at SPARK. Partnering with leading companies like ENGIE Cofely ensures that best-in-class services will be offered to investors, not only today but well into the future.”

On the other hand, ECDC and Integrated Dawiyat (Dawiyat), a wholly-owned subsidiary of Saudi Electricity Co., have agreed to sign Heads of Terms for Dawiyat to develop SPARK’s telecommunication infrastructure and associated smart services.

SPARK and Dawiyat will work together to deploy the fourth industrial revolution environment within SPARK by implementing advanced communication solutions to meet the industrial needs of the tenants.

The state-of-the-art digital infrastructure will enable the interaction of people and objects and the exchange of data. Additionally, it will allow tenants to benefit from tailor-made industrial services and solutions, leading to increased productivity and efficiency.


Prince Khalid says Saudi Arabia’s 90th national day renews pride 

Updated 2 min 28 sec ago

Prince Khalid says Saudi Arabia’s 90th national day renews pride 

Saudi Arabia’s Vice Minister of Defense, Prince Khalid bin Salman congratulated King Salman and Crown Prince Mohammad bin Salman, and the people of the Kingdom on National Day. 
“(National Day) renews pride in our past,” the prince said on his official Twitter account on Wednesday, adding that it increased the nation’s ambition for its future.
“On National Day we recall the glories of the founding founder, King Abdulaziz - may God rest his soul - and the heroism of the faithful who sacrificed their lives for our homeland,” he said. 
Saudi Arabia marked its 90th National Day with an announcement from the General Entertainment Authority that the first concert will be held under the motto “mettle to the top,” and feature superstars Rashid Al-Majed and Aseel Abu Bakr in Green Halls in Dammam.
This year, Saudi Arabia marks its national day amid the coronavirus global pandemic.

The Kingdom vs. COVID-19
How Saudi Arabia acted swiftly and coordinated a global response to fight the coronavirus, preventing a far worse crisis at home and around the world
Enter
keywords