Riyadh - Sharikat Mubasher: SPARK Logistics, a joint venture between King Salman Energy Park (SPARK) and Hutchison Ports, signed two memoranda of understanding (MoUs) with ESAB and Petromasafi to facilitate leasing existing pre-built facilities located within the SPARK’s dry port bonded area.

In a statement, the company said that the MoUs will enable the leasing of pre-built facilities, spanning an area of over 15,000 square meters, which will serve as light manufacturing and distribution centers for ESAB and Petromasafi.

The agreements aim to enhance supply chain efficiencies and expand product distribution across the region, in line with the objective of the National Transport and Logistics Strategy (NTLS) to transform the Kingdom into a global logistics hub.

The facilities will be utilized for the production, storage, and distribution of important equipment and chemicals.

Saif Al Qahtani, Chairman of SPARK Logistics, commented: “These agreements are in line with our commitment to localize the energy value chain and establish a leading industrial hub that offers global connectivity to the Saudi energy sector and beyond. We are confident that both entities will thrive and benefit from our unmatched connectivity to the regional market.”

Moreover, the agreements are expected to create more than 100 new jobs in Saudi Arabia, bolstering the national economy and fostering the development of local talent.