King Salman City to Develop Smart Manufacturing Base
King Salman Energy City "SPARK" has signed a leasing agreement with Dalybal Holding Company for a land area exceeding one million square meters within SPARK, for a duration of 25 years. The goal is to establish an advanced smart manufacturing base for energy equipment in Saudi Arabia. The project's investments are expected to reach around $2.1 billion, focusing on developing advanced manufacturing capabilities for seamless steel pipes used in oil and gas well casing and production, as well as drilling and hydrogen pipes. The project aims to support local industrial capabilities and promote the localization of supply chains in the energy sector. Located in a strategic site near industrial and energy markets in Saudi Arabia, it will contribute to economic growth and the domestication of advanced technology.
Notice: This Is an AI-Generated Summary
Comments (0)