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 approximately SAR 260 million ($69.33 million), statement said.
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 and create up to 100,000 direct and indirect jobs.
SPARK is attracting industrial investors across five strategic sectors including Upstream, Downstream, Petrochemicals, Power, Water and Wastewater.
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