Arab News, Saturday, Sep 18, 2021 | Safar 11, 1443
King Salman Energy City signs management agreement with Hutchison Ports
Saudi Arabia:
King Salman Energy Park
(SPARK) has signed an agreement with Hutchison Ports that will see the firm
manage and operate the dry port and logistics area of the eastern province-based
project.
SPARK is a 50-kilometre integrated industrial
city, which is set to be 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.
It will also meet the logistical services of
neighboring cities and industrial parks, SPARK said in a statement.
SPARK added: "The partnership with Hutchison Ports
will help it open up global markets to its partners and investors, enabling them
to operate more efficiently and reduce transport time and costs."
Construction work for the first phase is expected
to be completed in 2021, covering 12 square kilometers, and the dry port and
logistics area will cover 3 square kilometers, including warehouses, storage
facilities and a customs clearance area.