Saudi Investment Project Recommendation Series Ⅲ—King Salman Energy Park
Saudi Arabia continues to power toward the goals set out in its transformative Vision 2030 economic road map with an official endorsement naming of King Salman Energy Park (SPARK) in the Kingdom’s Eastern Province. With Saudi Aramco as the main anchor tenant in the park, the project will create a global industrial hub for energy-related manufacturing services and is expected to attract some of the world’s biggest — and most innovative — energy industry names.
In line with the goals of Vision 2030, SPARK will create tens of thousands of direct and indirect jobs for local communities while serving as an economic catalyst. SPARK will offer a comprehensive ecosystem comprising of a world-class infrastructure, logistics and a dry port, shared services, a commercial and residential area, and highly specialized training centers. SPARK will be constructed at a strategic location between the Eastern Province cities of Dammam and al-Hasa, allowing easy access to a large pool of local manpower. SPARK is pertaining to enhancing economic diversification, supporting the private sector, and pressing ahead with efforts to develop the energy sector. This will help develop a more stable and secure business ecosystem that will support efforts to achieve the desired growth targeted by such projects. The total area of the energy park is planned to be more than 50 square kilometres and will be developed in three phases, expected to be completed by 2035. SPARK will also cultivate and nurture small and medium-sized enterprises while also stimulating innovation and entrepreneurship in the energy sector — significantly contributing to a diversifying economic landscape. SPARK, after reaching full maturity, will add significantly to the Kingdom’s GDP. SPARK will enabling Saudi Arabia to establish itself as a strategic energy investor and will participate in the development of the private sector, particularly the companies engaged in the Kingdom’s globally and regionally competitive energy support industries and services. SPARK will be clustered by function and will be engineered for geographic and value chain efficiency in a purpose-built fully integrated environment. It is expected that SPARK will bring about a desirable “work, live and play environment” for energy support companies, their employees, and their families —attracting the best in local and global talent.
For more details, please refer to the attached presentation about SPARK and visit below webpage: