King Salman Energy Park (SPARK) and Hong Kong-based Hutchison Ports are forming a joint venture to manage and operate a new dry port and bonded logistics zone in the SPARK energy industrial city. The 3km2 dry port will target the provision of logistics services for energy-related products in the Middle East and beyond while also serving neighbouring industrial cities.
SPARK, in Saudi Arabia’s Eastern Province, spans over 50km 2 in total and is conceived as being a manufacturing, service centre and logistics hub for the energy sectors. Mohammed Y. Al-Qahtani, Chairman of SPARK, said: “Hutchison Ports is a world class ports and terminal operator, and this step will give SPARK’s investors ease of access to local and global markets. Furthermore, the logistic hubs will also serve the eastern region and its industrial cities.”
Group Managing Director of Hutchison Ports, Eric Ip, added: “Saudi Arabia is an important market and we are very excited to participate in this ambitious, game-changing mega project. As the world’s leading port group, we will leverage our logistics expertise to create values and competitiveness for the tenants of SPARK.”
SPARK’s first phase, now 80% completed, is divided into a number of clusters, including a logistics zone, industrial hub, business district, digital hub and residential and commercial areas. The dedicated dry port and logistics zone will include warehouses and storage facilities, a bonded area and on-site customs clearance.