Saudi Crown Prince to launch King Salman Energy Park project

By December 10, 2018News

Saudi Crown Prince Mohammed bin Salman is planning to launch the Kingdom’s new King Salman Energy Park project, known as SPARK, on Monday.

SPARK is located in Saudi’s eastern region between Dammam and Al Ahsa and will be developed, operated and managed by Saudi Aramco and the Saudi Authority for Industrial Cities and Technology Zones.

The park will be developed in three phases, the first phase has an expected completion date of 2021 and will cover 12 square kilometres. Once the park is complete, in 2035, it will cover a total of 50 square kilometres and is expected to contribute SAR 22 billion ($5.87 billion) to the Saudi GDP and create up to 100,000 direct and indirect jobs..

The development will be divided into five main areas, each focusing on a different sector. The first will focus on general manufacturing, electricity, equipment, liquids and chemicals, metal formation and industrial services.It will also include a dry port with capacity for 8 million metric tonnes of cargo per annum, an Aramco drilling and maintenance area and space for 10 training centres to build the skills of Saudi nationals.

Saudi officials say Spark will localise 350 industrial and service facilities and help create a foundation for industrial services in the Kingdom. They also anticipate an improvement to the Kingdom’s innovation and global competition and a reduction in operational service costs related to the energy sector.