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King Salman Energy Park to be launched on Monday

KSA
GDN Online Desk
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The new King Salman Energy Park, themed "Spark", will be given the go-ahead on Monday in Saudi Arabia's Eastern Province, according to Saudi Gazette.

Crown Prince, Deputy Premier and Defence Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud will lay the foundation stone for the milestone.

Spark is managed by Aramco with investments worth around $1.6 billion (SAR6 billion) allocated for preparing and setting up the infrastructure. It will be developed in three phases on a space of approximately 50 square kilometres.

Spark will provide a $6 billion (SAR22.5 billion) boost to the country's gross domestic product upon completion, and will create 100,000 job opportunities for the youths in the kingdom, said Ahmad A Al Ghamdi, manager of Saudi Aramco’s Process and Control Systems Department.

He was addressing an audience of investors and firms’ presidents in In Kingdom Total Value Add (IKTVA) programme Forum and Exhibition organised by Aramco in Dammam last week.

The mega-project is designed to position Saudi Arabia as a global energy hub that furnishes a dynamic, enabling environment for foreign and domestic investment. 

Targeting exploration, production, refining, petrochemicals, conventional power, and water production and treatment, SPARK will leverage Saudi Aramco’s pivotal role as the world’s most reliable energy supplier – and the world’s leading mega-project manager.

With manufacturing and service activities ranging from equipment for drilling, electrical services, and liquids treatment; exploration and production services; to pipes, vessels, tanks, valves, and pumps, SPARK will be a sure catalyst for Vision 2030, Saudi Arabia’s plan to diversify the kingdom’s economy beyond oil and build a thriving private sector.

The 50 sq km energy city will be constructed between Dammam and Al-Hasa in the heart of the Saudi energy business, near major workforce providers and adjacent to highway and railway networks. This location will also allow for integration with Dammam's 3rd Industrial City, as well as proximity to power generation and water sources, and logistics services.

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