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King Salman Energy Park – SPARK to add USD 6 billion to KSA’s GDP

TAGS: Proptech
SPARK
Securing the tech and innovation award as part of Cityscape Intelligence’s KSA Awards, King Salman Energy Park – SPARK, is expected to add USD 6 billion to the kingdom’s GDP

Developed and operated by Saudi Aramco, King Salman Energy Park (known as SPARK) is a megaproject being constructed and located between Dammam and Al-Ahsa in the Eastern Province of Saudi Arabia.

The project emerged as the winner of the tech & innovation category as part of Cityscape Intelligence’s KSA Awards.

BOOST THE COUNTRY’S GDP

King Salman Energy Park,  SPARK, is a subsidiary of Saudi Aramco and is being developed to capture the full economic value from energy-related goods and services in Saudi Arabia and throughout the region – localizing value creation through dedicated industrial development.

SPARK is a fully integrated industrial ecosystem, spaning an area of 50 square kilometers.

SPARK is being developed with a vision to become the leading gateway to the regional energy sector, providing a complete spectrum of solutions to support business growth in the Kingdom.

SPARK is also the first and only industrial city in the world to achieve silver LEED certification, offering infrastructure at international standards for global investors in the oil and gas, refining, petrochemical, power and water production as well as treatment industries.

SPARK1

 

MAJOR GLOBAL ENERGY COMPANIES

Execution is planned over three phases. SPARK has completed 80% of its first phase, which consists of infrastructure, roads, utilities and real estate assets established across 14 square kilometres; phase one is set to be completed in 2021. This is in addition to a dedicated three-square kilometers logistics zone and dry port.

SPARK is expected to contribute more than USD 6 billion to the Kingdom’s GDP and to create thousands of direct and indirect jobs at maturity stage. SPARK will also cultivate and nurture small and medium-sized enterprises and will stimulate innovation and entrepreneurship in the energy sector.

SPARK2

PROJECT FACTS

Developer: Saudi Aramco

Location: Eastern Province of Saudi Arabia

Zones: Dry-port & Logistics, Industrial, Residential, Commercial, training and learning

Investors: 23 companies including Baker Hughes, Halliburton, Yokogawa and Schlumberger

 

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