King Salman Energy Park (SPARK) announced the signing of several provisional lease agreements with major global and regional partners across the energy and industrial landscape. Valued at approximately SAR 563 million, these agreements underscore SPARK’s crucial role in advancing industrial localization and strengthening supply chain resilience, in direct alignment with Saudi Arabia’s Vision 2030.

These newly signed agreements welcome a diverse group of companies, each set to contribute significantly to the growth of SPARK’s integrated value chain:

• Neway Valve (China – General Manufacturing): Will produce industrial valves, enhancing regional supply for critical infrastructure and oil & gas operations.
• RAX (India – Metal Processing): Will manufacture ductile iron (DI) pipes, supporting regional water and wastewater networks and boosting local metal processing capabilities.
• Schneider Electric Arabia (France – Power): Will produce advanced process automation systems, accelerating digital energy management and smart operational technologies within the Kingdom.
• Worldrep (KSA – Chemical): Will supply high-quality drilling chemicals, supporting upstream oil and gas activities and reinforcing national self-sufficiency.

Mishal I. Al-Zughaibi, President and CEO of SPARK, commented on the signings: “We are delighted to welcome these industry pioneers to SPARK. Their presence highlights the Kingdom’s growing appeal as a hub for industrial investment and reflects our shared commitment to localizing new industries, fostering job creation, and transferring advanced technologies. These developments significantly reinforce SPARK’s role in driving economic diversification and sustainable growth within the energy ecosystem.”

About King Salman Energy Park (SPARK)

SPARK is a leading industrial ecosystem built on the principles of sustainability. It connects the world to opportunities within the Saudi energy sector and beyond. As a national megaproject driving socio-economic impact globally and locally, SPARK simultaneously catalyzes the Kingdom’s role in the global energy transition, providing a world-class environment for investors and tenants at the heart of the energy market.