SPARK Marks Significant Progress Milestones
King Salman Energy Park (SPARK), the leading industrial ecosystem, announces lease agreements with two new tenants and the start of construction 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.
New leases
The new lease agreements, totaling over SAR 30 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.
Construction has also begun across key projects at SPARK, with a total investment value of SAR 250 million. 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's key role
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.
Saif al-Qahtani, presidente y consejero delegado de SPARK, ha declarado: “SPARK se enorgullece de los importantes progresos que estamos realizando para crear un ecosistema integrado de categoría mundial en el corazón del mercado energético. Nuestros recientes avances, como la acogida de nuevos inquilinos y el inicio de la construcción de proyectos clave, impulsan nuestras ambiciones. Mientras nos anticipamos a forjar nuevas alianzas, junto con nuestros socios, nos enorgullecemos de fomentar el crecimiento sostenible y la innovación en el Reino y más allá”.