Dhahran, March 14, 2019, SPA -- In a major step to launch the operations of the Energy City Development Company — owner and developer of King Salman Energy Park (SPARK) — the first meeting of the board of directors of the company was held under the chairmanship of Mohammed Y. Al Qahtani, senior vice president of Upstream at Saudi Aramco.
Board members attending included Abdulhamid A. Al-Rashid, vice president of Drilling and Workover; Mohammad I. Al-Assaf, vice president of New Business Development, Mohammad A. Al Shammary, vice president of Procurement and Supply Chain Management, and Bassam M. Asiri, assistant controller.
The board discussed and approved a number of items, including the appointment of Saif S. AlQahtani as president and CEO of Energy City Development Company, and other senior officials in the company. The board also approved the 2019-2021 business plan and the 2019 budget, and endorsed governance and company policies that included management guidelines, financial policies, contract and procurement management, human resources, and the authorities of the president President and CEO of the company.
“We are pleased to launch the operations of the Energy City Development Company, which carries out the basic role of developing the infrastructure of SPARK according to the best standards, providing facilities and services, and operating and maintaining the park city to attract local and world investors in the field of energy,” said Mohammed Al Qahtani.
He added, “The SPARK project is one of Saudi Arabia’s mega and ambitious projects that contribute to achieving and supporting the development process and national economy in the implementation of the Kingdom’s Vision 2030."
After the issuance of the Council of Ministers’ decision to establish the industrial park in July 2017, Saudi Aramco started conducting studies and surveys in cooperation with the company’s main suppliers. These efforts resulted in identifying a number of main components for creating an integrated, sustainable business environment comparable to the best industry centers in the world. Saudi Aramco also decided to set up its main Drilling and Workover headquarters at SPARK, in addition to a center for procurement and supply chain management.
The parkSPARK will focus on attracting investments in industries and supporting services for five sectors — upstream and crude oil production, downstream, petrochemicals, electric power, and water production and treatment. This will be achieved through providing world-class infrastructure to attract investors, as well as integrated services supporting investors and sustainability of investments.
The project has been successful in attracting 26 Industrial tenants for a total area of 4.81 km2, representing 80% of the industrial area of phase 1.
Additionally, SPARK will contribute to boosting the industry-related supply chain and supporting services of the energy sector in the area and the Kingdom, which will create thousands of jobs for Saudis, both men and women.
The project includes five main areas:
1. Industrial Area: The area is divided into five specialized industrial clusters that contribute to developing an integrated values system for energy products and services. The specialized clusters will focus on general industrialization, electrical and equipment, liquids and chemicals, metals fabrication, and industrial services.
2. Logistics Area: This will include the dry port and a customs area that includes a storing and re-exporting area that will be connected with the Gulf railway in the future. The area will also include a logistic services complex and other services facilities.
3. Business Area: This will include the park administration center, headquarters of Saudi Aramco’s Drilling and Workover, and commercial buildings, such as office areas, restaurants, and commercial stores.
4. Training Area: This area is designed to accommodate 10 energy-training centers to train and develop national staff and meet investors’ needs in the area
5. Residential and Commercial Area: This area includes residential complexes and hotel apartments that will be offered to investors. It also includes a health center and supporting facilities.
--SPA
15:05 LOCAL TIME 12:05 GMT
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