RIYADH: King Salman Energy Park, also known as SPARK, will soon have access to improved logistical services and solutions thanks to a new agreement.
SPARK and Hong Kong-based firm Hutchison Ports have signed a concession agreement to manage and operate the dry ports and logistics area of the largest global center for power plants in Saudi Arabia.
This move falls in line with the objectives of the Saudi Vision 2030 in transforming the Kingdom into a global logistics hub.
Under the agreement, SPARK Logistics, which is the exclusive operator of the $400 million facility, will provide services related to various commodities to meet the needs of investors in the city.
This will be achieved through handling containers and managing shipments, as well as providing storage yards, warehouses and custom procedures.
The dry port will enhance the Eastern province’s prominence as a regional logistical powerhouse, through its connectivity to the upcoming Gulf Cooperation Council railway and multiple highways connected to the SPARK site.
The signing of the concession agreement transfers the dry port to the operational readiness stage, making it ready for investors, explained CEO of SPARK Saif Al-Qahtani while highlighting that the dry port is one of the main capabilities of the city.
SPARK is a 50 km integrated industrial city which is being developed in three phases as the logistics service gateway for the regional energy sector.
The facility has been established to help investors gain access to global markets, which would in turn provide opportunities to increase demand for energy goods and services in the Middle East and beyond.
In November 2021, SPARK was presented with the Innovation Project of the Year Award at the Construction Innovation Awards Middle East.
“It is truly a business imperative for a megaproject such as SPARK, which is set to help grow and diversify the Saudi economy by localizing the energy value chain in Saudi Arabia, to adopt innovative sustainable construction techniques,” Al-Qahtani said at the time of the ceremony.
He added: “By integrating sustainability into the community, we hope to inspire other industrial cities to follow our lead.”
