Saudi’s King Salman Energy Park signs tenant agreements with TAQA and AMCO

The King Salman Energy Park (SPARK), an energy industry-specific investment park based in the Eastern Province of Saudi Arabia, has attracted new investments from TAQA and AMCO.

As an anchor tenant, TAQA will expand the operations of its TAQA Industrial Park situated within SPARK. TAQA will establish a new facility that will include oilfield services, a speciality facility for engineering and manufacturing, and a wireline and perforation ‘ centre of excellence’. The facilities will be constructed in two phases starting in the second quarter of 2021, with the design and developmental planning stages having already commenced.

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AMCO will invest over SAR260m in a new centre in SPARK. AMCO’s plans include the development of facilities to enable the manufacturing and production of steel pipes, valves, pumps, turbines, and machine and rotary equipment. Its facilities will be developed in three phases.

“SPARK is proud to welcome TAQA and AMCO as they take the first step towards launching their operations,” said Saif Al-Qahtani, SPARK president and CEO. “SPARK sits at the heart of the energy market, offering a world-class ecosystem that facilitates the growth of our tenants’ businesses and brings sustained value to our wider communities. SPARK is set to be a fully integrated city, bringing together major national and international companies and fuelling economic growth and job creation.”

SPARK offers ready to lease land with integrated infrastructure and utilities to reduce development timelines and ease doing of business in the kingdom.