Energy Park project SPARK will launch on Monday
Saudi Crown Prince Mohammed bin Salman is expected to launch kingdom’s new King Salman Energy Park project, known as SPARK on Monday.
SPARK will take place between Damman and Al Ahsa in the Eastern Region of Saudi Arabia. In addition, the project is developed, operated and managed by Saudi Arabia in partnership with Saudi Arabia Industry and Technology Zones.
SPARK will be launch on Monday. Energy Park will take place in three stages. However, in the first phase of the project will be built an area of 12 kilometers. When all the phases of the project are completed, 50 kilometers area will be built. The Park is scheduled to be completed in 2021.
According to Saudi Aramco, the first phase of the park will attract more than 120 investments. The SPARK will eventually have five main regions. The first will focus on general production, electricity and equipment, liquid and chemicals, metal formation and industrial services.
The project will also have a dry port area with a capacity of 8 million metric tons of cargo per year. In addition, Aramco will provide a training area to be reserved for 10 training centers with its drilling and maintenance area. Saudi nationals and a residential, commercial and recreational area.
In 2035, King Salman Energy Park is expected to contribute $ 5.87 billion to Saudi Arabia’s GDP and create jobs for 100,000 people. Saudi officials said the project would “localize” 350 industrial and service facilities and create an industrial base, enhance the innovation of the kingdom and global competition, and reduce the costs of operational services related to the energy sector.
Source: Arabian Business
Melike Vodina / realestatecoulisse.com