King Salman Energy Park announces key investment

King Salman Energy Park announces key investment
King Salman Energy Park announces key investment

Thank you for reading the news about King Salman Energy Park announces key investment and now with the details

Jeddah - Yasmine El Tohamy - JEDDAH: King Salman Energy Park (SPARK) has announced the signing of five key investment commitments by new tenants who will develop industrial facilities, factories and services centers at SPARK to serve the oil and gas and energy sector in the Kingdom and the Gulf Cooperation Council.

The agreements were signed at Saudi ’s 5th annual iktva (In-Kingdom Total Value Add) forum in the presence of SPARK’s Chairman Mohammed A-Qahtani.

More than 70 exhibitors, 14 government entities, and eight international energy partners attended the iktva Forum and Exhibition 2020 at the Dhahran Expo center.

Al-Qahtani said: “We are delighted to announce these new partnerships with both local and international investors. This represents a significant contribution to localizing value creation through dedicated industrial development.”

Meanwhile, Energy City Development Company (ECDC), the owner and developer of SPARK and ENGIE Cofely, an international leader in providing zero-carbon energy and integrated facilities management, and International Maritime Industries (IMI) have announced the signing of an agreement to act as a facilities management adviser and a training provider for SPARK and IMI.

SPARK offers streamlined and cost-effective operations near major workforce providers close to transport networks. The location also helps integration with Dammam’s 3rd Industrial City, as well as proximity to power generation and water sources, and logistical services. 

Al-Qahtani said: “The partnership with ENGIE Cofely will support us in providing international standard services to our tenants at SPARK. Partnering with leading companies like ENGIE Cofely ensures that best-in-class services will be offered to investors, not only today but well into the future.”

On the other hand, ECDC and Integrated Dawiyat (Dawiyat), a wholly-owned subsidiary of Saudi Electricity Co., have agreed to sign Heads of Terms for Dawiyat to develop SPARK’s telecommunication infrastructure and associated smart services.

SPARK and Dawiyat will work together to deploy the fourth industrial revolution environment within SPARK by implementing advanced communication solutions to meet the industrial needs of the tenants.

The state-of-the-art digital infrastructure will enable the interaction of people and objects and the exchange of data. Additionally, it will allow tenants to benefit from tailor-made industrial services and solutions, leading to increased productivity and efficiency.

These were the details of the news King Salman Energy Park announces key investment for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Yemen.. “Coalition” announces the destruction of a “secret site” of the...