Oilfields Supply Center Ltd. (OSC) will invest $570 million for a center at the King Salman Energy Park (SPARK).
Covering an area of 1 million square meters with several zones, the OSC supply base is a major part of the deal, which will create an ideal environment for SMEs, local and international companies, and contribute towards Saudi Arabia’s 2030 Vision.
In a press statement on Monday, SPARK chairman of the board of directors Dr. Mohammed Yahya Al-Qahtani stated that OSC is supplying pre-built industrial solutions that give flexibility to investors to rent industrial workshops and facilities and de-risks set-up phase for them, alongside providing supporting services.
The deal is expected to generate jobs in the energy sector. Notably, every phase of the on-site work will be completed by the Q4 of 2023. Last month, SPARK announced that 80% of the infrastructure for Phase I has been completed and the remaining 20% (Phase II & III) will be done by the end of this year.
According to OSC’s director Iqbal Mohammed Abedin, the creation of a gas and oil supply base at SPAR is the only fully integrated energy hub in the region that will bolster the development of a sustainable and competitive energy sector in Saudi Arabia.