https://arab.news/bvcjy
RIYADH: King Salman Energy Park has signed a contract with Pan Kingdom Real Estate Co., a subsidiary of Pan Kingdom Holding, to develop a specialized ready-built factory project aimed at supporting localization and supply-chain development in Saudi Arabia's energy sector.
The agreement, signed under the patronage of Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz, forms part of broader efforts to increase local content, strengthen industrial capabilities and support the objectives of Saudi Vision 2030.
The project aims to provide specialized ready-built factories that will attract global companies and suppliers, enabling them to establish and operate facilities at competitive costs and with greater efficiency. The development will offer flexible solutions that support a range of localization activities, accelerating operational readiness for companies and suppliers serving the energy sector.
Under the agreement, Pan Kingdom Real Estate Co. will develop an integrated industrial complex comprising 168 specialized ready-built factories across a total area of 214,000 sq. meters.
Designed to meet the needs of companies operating in the energy sector and its supply chains, the complex will feature state-of-the-art factories, facilities and support services built to the highest industry standards.
The project is expected to enhance SPARK’s investment appeal and improve the operational efficiency of companies linked to the energy sector.
SPARK is one of the world’s leading industrial cities specializing in the energy sector. It offers a comprehensive system of infrastructure, logistics services, and investment solutions that support business growth and promote the localization of value-added industries and services.
The project is strategically located near ports, airports and major transportation networks, contributing to more efficient supply chains and logistics services and supporting the ability of local and international companies to serve energy markets in the Kingdom and the wider region.
The project extends efforts under the Ministry of Energy’s localization initiative, which aims to support local and international companies and increase local content levels.
It aims to provide integrated infrastructure that contributes to strengthening and expanding industries related to the energy sector, creating investment opportunities, broadening the supplier base and increasing the contribution of national enterprises, thereby supporting the sector’s strategic objectives.