SPARK Logistics, a joint venture between King Salman Energy Park (SPARK) and Hong Kong-based Hutchison Ports, has signed two memoranda of understanding (MoUs) with global oil and gas majors ESAB and Petromasafi.

The MoUs will facilitate leasing existing prebuilt facilities within the SPARK’s dry port bonded area.

The agreements will enable the leasing of prebuilt facilities, covering an area of over 15,000 square meters, which will serve as light manufacturing and distribution centres for ESAB and Petromasafi.

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

The agreements aim to strengthen supply chain efficiencies and expand regional product distribution as part of the Kingdom’s National Transport and Logistics Strategy. 

Being a fully automated district, SPARK’s logistics area will feature the region’s first and largest private dry port, on-site customs clearance services, and bonded warehouses.

(Writing by D Madhura; Editing by Anoop Menon)

 (anoop.menon@lseg.com)

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