20 Hrs
Source:
الاقتصادية
King Salman City Signs Power Equipment Manufacturing Deal
King Salman Energy City "Spark" has signed a lease agreement with Daliybal Holding Company for a land area exceeding one million square meters for a period of 25 years. The purpose is to establish a smart and advanced manufacturing base for energy equipment in Saudi Arabia. The project aims to develop sophisticated production capabilities for seamless pipes used in the oil and gas industry. The investments for the first phase amount to approximately $600 million, while the total investments are projected to reach around $2.1 billion. The project focuses on strengthening local manufacturing capabilities and localizing supply chains within the energy sector. It represents a crucial step in Daliybal's international expansion strategy and is located in a strategic site that supports both regional and international markets.
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