RIYADH: Saudi Arabia's King Salman Energy Park (SPARK) Utilities has appointed Saudi Aramco Power Company (SAPCO) as operation and maintenance services provider to manage power infrastructure and services at the park that is designed to attract energy investments.
The appointment of SAPCO will enable the energy hub to energise its power distribution network and therefore lower costs and barriers to entry to investors.
With the first phase of development nearly complete, SPARK has established SPARK Utilities as a subsidiary company to distribute power, water, and gas distribution within the city and to manage the utilities infrastructure at international standards, according to the statement.
SPARK’s value proposition targets investors and partners of all sizes. Over $2.4 billion foreign direct investments in the park are expected in the years ahead once investors complete construction of their facilities.
During the past two years, SPARK signed investment agreements with over 30 major energy and technology companies to invest in the energy park, with an additional 15 companies in the pipeline.
SPARK offers a high-quality ecosystem which include world class infrastructure, logistics park, advanced network of electric power, water, sales gas, sanitation systems, drainage and the most modern communications network in the Kingdom, all constructed with the environment and long-term sustainability in mind.
