Saudi Arabia’s energy city King Salman Energy Park (SPARK), has inked a new deal with oil and gas services provider Mubarak A. AlSuwaiket and Sons Oil & Gas Services Co (MASO&G) for the development of a multimillion-dollar manufacturing site that will produce corrosion protection tapes and oil and gas equipment.
In a statement on Monday, the energy city said MASO&G will set up a factory to produce corrosion protection tapes made of polyisobutylene and establish an oil tools equipment manufacturing and service centre.
The factory will be built on a 40,000-square-metre area within the Saudi energy city. The SAR40 million capital injection will be made over a three-year period.
Manufacturing site to contribute towards the development of SPARK‘s integrated ecosystem
“Our investment will provide us with a sustainable ecosystem that enables ease of operations and allows us to contribute towards the localisation of manufacturing in the kingdom,” said MASO&G’s President, Mubarak Abdullah AlSuwaiket.
The project will also contribute toward the development of SPARK’s integrated ecosystem in line with its aim of localising manufacturing while supporting job creation.
“[It] is committed to enabling the production of environmentally friendly products and technologies as part of its ESG commitment,” AlSuwaiket added.
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