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Spark Logistics signs two lease agreements: Spark Logistics — a JV between King Salman Energy Park (Spark) and Hutchison Ports — has inked a pair of MoUs with multinational welding equipment supplier Esab and Saudi oil and gas chemical products outfit Petromasafi to lease prebuilt facilities in Spark’s dry port bonded area, according to a press release. No additional details regarding potential investments and timelines were disclosed.
Details: Esab and Petromasafi will use the leased facilities as light manufacturing and distribution points to shore up local and regional supply chains by facilitating the production, storage, and distribution of equipment and chemical products, the statement said.
Background: The JV’s logistics zone is expected to kick off operations this year, offering services that include customs clearance and bonded warehouse storage. The hub looks to host 10 mn tonnes of cargo.
