Saudi Arabia's crown prince to inaugurate 1st phase of energy park

The crown prince will inaugurate the 50-square-kilometer project on Monday. (Saudi Aramco)

• SPARK is a mega project designed to position the Kingdom as a global energy hub

JEDDAH: Saudi Arabia's Crown Prince Mohammed bin Salman will inaugurate the first phase of the King Salman Energy Park  (SPARK) on Monday.
Saudi Aramco will develop, operate, manage and maintain the project’s infrastructure in partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON).
The energy park, located between Dammam and Al-Ahsa, will be developed in three phases. The project will cover an area of 50 sq. km. The first phase will be completed by 2021.
SPARK is a reflection of the objectives of the Kingdom’s Vision 2030 and an embodiment of its executive programs, particularly the National Industrial Development and Logistics Program, which aims to achieve sustainable economic development by transforming the Kingdom into a leading industrial force and a global logistics services hub.
The program supports the competitiveness of the private economic zones, including “SPARK,” and transforms them into a global market platform, and seeks to enhance their direct and indirect gains and returns to the national economy. Such projects are aimed at increasing employment opportunities, income generation, exports diversification and foreign direct investments.
As for indirect gains, the program seeks to provide indirect employment, local skills development, technology transfer, urban and regional development, and economic reforms.
At the completion of its first phase, the park will attract more than 120 investments. SPARK will be divided into five main regions. Its different regions will focus on general manufacturing, electricity and equipment, liquids and chemicals, metal formation, and industrial services; it will also include a dry port area with a capacity of 8 million metric tons of cargo annually; a Saudi Aramco well-drilling and maintaining area; a training area dedicated for 10 training centers; and a residential, commercial and recreational area.
By 2035, the park is expected to contribute more than SR22 billion to the Kingdom’s gross domestic product (GDP), provide up to 100,000 direct and indirect jobs, localize more than 350 new industrial and service facilities and create an industrial base to support innovation, development and global competition.