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2018-12-17 10:40:00

KING SALMAN ENERGY PARK: $6 BLN

KING SALMAN ENERGY PARK: $6 BLN

MEOG  - King Salman Energy Park (SPARK), a 50sqkm "energy city megaproject" in Saudi Arabia, is one of the Kingdom's most impressive endeavours into localisation so far. Once operational, it is expected to generate 100,000 direct and indirect jobs and should contribute $6bn to Saudi Arabia's GDP annually.

The first phase of development is slated for completion by 2021, and will require an investment of around $1.6bn. One of the project's initial partners is Baker Hughes, a GE company, which will build an oilfield services facility in SPARK.

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Tags: SAUDI, ARABIA, ENERGY, INVESTMENT

Chronicle:

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