- These developments mark a significant milestone for Spark as it drives localization of key products and services within the energy value chain
Saudi Energy Park marks key milestones with new tenant deals
King Salman Energy Park (Spark), the leading industrial ecosystem, has announced lease agreements with two new tenants and the start of construction work across key projects at Spark, with a total investment value of SAR250 million ($66.5 million) for key existing tenants.
These developments mark a significant milestone for Spark as it drives localization of key products and services within the energy value chain.
The new lease agreements, totaling over SAR30 million, represent significant investments in driving sustainable industrial growth in the Kingdom.
Abdulaziz & Brothers Safety Manufacturer (A&BC Reliable Protection), which produces high-quality Personal Protective Equipment (PPE) will set up their first facility at Spark for the industrial and construction sectors.
Meanwhile, Enjaz Al-Mustaqbal Industrial Company (Future Achievements) plans to establish a new manufacturing facility to support heating, ventilation, and air conditioning (HVAC) sector localization efforts.
BAAS Gulf Industrial Company, a subsidiary of the National Metal Manufacturing and Casting Company (MAADANIYAH), is set to expand its operations by Q4 2024 by manufacturing industrial valves and technical after-sales services.
Global technology software and engineering powerhouse, Emerson, has also begun construction of its advanced technology operations in Spark, which are expected to be operational in Q4 2024.
Spark continues to play a pivotal role in cementing Saudi Arabia’s position as a global energy, industrial, and technology hub in line with Saudi Arabia’s Vision 2030 objectives to increase local manufacturing capacities.
The ongoing development of these projects underscores Spark’s progress and commitment to advancing localization efforts in Saudi Arabia.
President and CEO Saif Al Qahtani said: “Spark is proud of the substantial progress we are making towards creating an integrated, world-class ecosystem in the heart of the energy market. Our recent strides, including welcoming new tenants and initiating construction on key projects, drive our ambitions forward.”
“As we anticipate forging new alliances, together with our partners, we take pride in fostering sustainable growth and innovation in the Kingdom and beyond,” he added.
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