Monday 17 June 2019

Saudi energy park developer names new CEO

RIYADH, March 17, 2019

Saudi-based Energy City Development Company, the owner and developer of King Salman Energy Park (Spark), has appointed Saif S AlQahtani as its new president and chief executive officer following the approval from the company board.

During the first board meeting held under the chairmanship of Mohammed Y Al Qahtani, senior vice president of Upstream at Saudi Aramco, the members discussed and approved a number of items, including the appointment of other senior company officials.

The board also approved the 2019-2021 business plan and the 2019 budget, and endorsed governance and company policies that included management guidelines, financial policies, contract and procurement management, human resources, and the authorities of the president and CEO of the company.

The board members include Abdulhamid A Al-Rashid, vice-president of Drilling and Workover; Mohammad I Al Assaf, vice-president of New Business Development, Mohammad A Al Shammary, vice-presidnet of Procurement and Supply Chain Management, and Bassam M Asiri, the assistant controller.

“We are pleased to launch the operations of the Energy City Development Company, which carries out the basic role of developing the infrastructure of Spark according to the best standards, providing facilities and services, and operating and maintaining the park city to attract local and world investors in the field of energy,” said Al Qahtani.

"Spark is one of Saudi Arabia’s mega and ambitious projects that contributes to achieving and supporting the development process and national economy in the implementation of the kingdom’s Vision 2030," he added.

Soon after the nod from the Council of Ministers to establish the industrial park in 2017, Saudi Aramco began conducting studies and surveys in co-operation with the company’s main suppliers. These efforts resulted in identifying a number of main components for creating an integrated, sustainable business environment comparable to the best industry centres in the world.

Saudi Aramco, in a major move, decided to set up its main Drilling and Workover headquarters at Spark, in addition to a centre for procurement and supply chain management.

The Spark will focus on attracting investments in industries and supporting services for five sectors - upstream and crude oil production, downstream, petrochemicals, electric power, and water production and treatment, said the statement from Energy City Development Company.

This will be achieved through providing world-class infrastructure to attract investors, as well as integrated services supporting investors and sustainability of investments, it stated.

The project has been successful in attracting 26 industrial tenants for a total area of 4.81 sq km, representing 80 per cent of the industrial area of Phase One, said the company.

The project includes five main areas:
1. Industrial: The area is divided into five specialised industrial clusters that contribute to developing an integrated values system for energy products and services. The specialized clusters will focus on general industrialization, electrical and equipment, liquids and chemicals, metals fabrication, and industrial services.

2. Logistics: This will include the dry port and a customs area that includes a storing and re-exporting area that will be connected with the Gulf railway in the future. The area will also include a logistic services complex and other services facilities.

3. Business: This will include the park administration centre, headquarters of Saudi Aramco’s Drilling and Workover, and commercial buildings, such as office areas, restaurants, and commercial stores.

4. Training: This area is designed to accommodate 10 energy-training centres to train and develop national staff and meet investors’ needs in the area

5. Residential and Commercial: This area includes residential complexes and hotel apartments that will be offered to investors. It also includes a health center and supporting facilities.

Additionally, Spark will contribute to boosting the industry-related supply chain and supporting services of the energy sector in the area and the kingdom, which will create thousands of jobs for Saudis, both men and women, it added.-TradeArabia News Service


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