King Salman Energy Park (SPARK) signs agreement with ENGIE Cofely as a facility management advisor
DHAHRAN, Tuesday, February 25, 2020
Energy City Development Company (“ECDC”), the owner and developer of King Salman Energy Park (“SPARK”) and ENGIE Cofely, an international leader in providing zero-carbon energy and innovative integrated facilities management solutions, announce the signing of an agreement in presence of King Salman Energy Park’s Chairman Dr. Mohammed Y. AlQahtani for ENGIE Cofely to act as a facilities management advisor and training provider for SPARK.
Once operational, SPARK will be a fully integrated energy, industrial, technology and services facilities city, providing tailored solutions to its tenants, ranging from large multinational organizations to local and regional small and medium sized enterprises.
Developed with a vision to become the leading regional gateway to the energy sector, the 50 km² SPARK will include an industrial area, dry port and logistics zone, as well as vibrant residential, educational, and commercial zones. SPARK is strategically located in the energy rich Eastern Province of Saudi Arabia, offering investors unmatched access to the growing energy market in the Kingdom and across the GCC.
SPARK offers added value to the investors, with streamlined and cost-effective operations near major workforce providers and within close proximity to highway and railway networks. The tactical location also facilitates a convenient integration with Dammam's 3rd Industrial City, as well as proximity to power generation and water sources, and logistical services.
Saif Al Qahtani, SPARK’s President & CEO, commented: “The partnership with ENGIE Cofely will support us in providing international standard services to our tenants at SPARK. Partnering with leading companies like ENGIE Cofely ensures that best-in-class services will be offered to the investors, not only today but well into the future. SPARK offers unmatched supply-chain efficiency at the heart of the global energy market.”
Turki AlShehri, Chief Executive Officer of ENGIE KSA, said: “We are very excited to work with SPARK and IMI on these two historical projects for the Kingdom. This is a great opportunity for ENGIE to utilize its global expertise working with more than 70 countries and 30 million clients globally, to truly provide the highest standard of services that are unique to SPARK and IMI. Through knowledge transfer, localization and best global practices, ENGIE positive partnership with SPARK and IMI will support in providing the highest quality of services for the leading global energy, industrial and technology hub and the largest maritime facility in the region.”
ENGIE Cofely, a world-class international facility management advisor, will support SPARK in providing international standard services to its tenants. In addition to the facilities management, ENGIE Cofely will also establish the internal governance framework for the city and implement a training structure on facilities management for ECDC’s employees to ensure future continuity and progress.
ENGIE Cofely is a global leader in providing low-carbon energy and innovative integrated facilities management solutions in sectors such as transport, retail, commercial, infrastructure, industrial, residential, educational organization, and healthcare. By using innovative smart technology, efficiently managing assets, optimizing labor and resources, ENGIE Cofely delivers energy-efficient focused solutions to meet their client’s specific demands ensuring long-term asset value.
SPARK also offers non-industrial investment opportunities, such as residential and commercial real estate, as well as logistics facilities and services, prebuilt factories, warehouses, and other logistics enablers. The city has already attracted a number of key anchor investors with over 70% of Phase 1 land allocated. Execution is planned over three phases, with $1.6 billion of investment going into Phase 1 which will be completed in 2021.