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King Salman Energy Park (Spark) signed five letters of intent worth a combined SAR 3 bn to establish manufacturing facilities for a new batch of local and international tenants, according to a press release. The agreements — inked on the sidelines of ADIPEC 2024 — will help localize the energy supply chain at the park while boosting manufacturing output and creating upwards of 3k direct and indirect jobs, the statement said.
Facilities breakdown:
- France-based BioChem will establish the region’s first xanthan gum plant, spanning 100k sqm and producing 20 kilotons annually;
- India’s MAN Industries will set up a 360k sqm facility to produce large-diameter carbon steel pipes with anti-corrosion coatings;
- Dammam-based Primetech International will establish a facility manufacturing blow-out preventers and manifolds to support the Kingdom’s Saudi Made branding internationally;
- India’s Thermocables will establish a 10k sqm speciality cable manufacturing hub;
- Hong-Kong based Dalipal Holdings will roll out a 1 mn sqm seamless steel pipes manufacturing plant to support the local energy services sector.
Background: Spark had lined up a total of USD 3 bn in expected investments from 60 investors as of September, with seven tenants operating facilities and another 14 awaiting facilities that are under construction. The industrial city is the first in the world to receive a LEED Silver certification.
ICYMI- US-based software and engineering firm Emerson became the latest addition to Spark, last month. The company inaugurated a 13k sqm manufacturing facility to produce control systems, valves, measurement instruments, and industrial lighting assemblies, with some production earmarked for regional exports.
