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SPARK, AMCO pen deal to build new facility with SAR 260m investment

SPARK, AMCO pen deal to build new facility with SAR 260m investment
SPARK is expected to contribute $6 billion to the Saudi GDP

Riyadh – Mubasher: King Salman Energy Park (SPARK) and AMCO signed an agreement for the establishment of a facility for producing wellheads, pumps, coating, pipe drilling, and oilfield maintenance services.

The investment value of the facility is projected to surpass SAR 260 million ($69.33 million), SPARK tweeted on Thursday.

SPARK also announced that TAQA built its new industrial park for oil and gas, which will include oilfield services, a specialty facility for engineering and manufacturing, and a wireline and perforation centre of excellence.

Upon completion, SPARK, a 50-square-kilometre energy city megaproject, is expected to contribute more than $6 billion (SAR 22.5 billion) to the kingdom’s gross domestic product (GDP) annually.