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Saudi Arabia is in the process of developing an energy hub with green technology in mind. Called the King Salman Energy Park. the hub will focus on exploration. production. refining. petrochemicals. conventional power. water production and treatment.
The new project has been dubbed ‘Spark’ and it has a focus of reinvigorating the country’s national energy sector. The project is coordinated by Saudi Aramco (the ‘Saudi Arabian Oil Company’). Saudi Aramco is one of the largest companies in the world by revenue. and it has. according to OPEC. the world`s second-largest proven crude oil reserves. at more than 270 billion barrels.
The long-term economic benefits of the project are expected create some 350 new industrial and service facilities and to lead to a number of new jobs. as well as developing new work-based skills.
The Spark project forms part of Vision 2030. which is an initiative promoted by the Saudi Arabian government. Central to this is a scheme to diversify the Kingdom’s economy beyond oil. This includes investing in alternative (‘green’) technologies. Also included as part of the scheme are plans to develop public service sectors in the country. like health. education. infrastructure. recreation and tourism.
The 50-square-kilometer energy city will be built. as Process Worldwide reports. between Dammam and Al-Hasa. which are at the center of the Saudi energy business. This area is also close to workforce providers and positioned near adjacent to highway and railway networks. This location should see Dammam become the country’s third 3rd major industrial city.
The estimated completion date for the project is 2035. By this time. it is hoped Spark will have created some 100.000 direct and indirect jobs. As well as helping to build the economy within. the output from the project is expected to lead to an increase of technological exports.
On completion. Spark will be formed of five main regions. The first region will focus on general manufacturing. electricity. and equipment. liquids and chemicals. metal formation and industrial services.
Discussing the project. H. E. Khalid A. Al-Falih. the Minister of Energy. Industry and Mineral Resources stated: “Spark is one of the country’s most ambitious projects. affirming the Kingdom’s commitment to Vision 2030 by creating thousands of high-skilled jobs. serving as an economic catalyst and advancing Saudi Arabia’s strong position in the global energy sector.“
He adds: “The energy park’s unique value proposition makes it an ideal destination for companies looking to invest in the thriving Saudi Arabian energy services market.“
