Saudi Arabia’s energy park forecast to create 100,000 jobs

The King Salman Energy Park (SPARK) in the Kingdom of Saudi Arabia is planning to create 100,000 direct and indirect new jobs.

The project is part of the Kingdom’s commitment to “Vision 2030”, which plans to create many new high-skilled jobs, and broaden Saudi Arabia’s economy.

The park is a 50 sq. km. “energy city megaproject”, and is forecast to contribute US$6 billion to Saudi Arabia’s gross domestic product annually.

The first phase of the development, which will cost US$1.6 billion, is set to be completed by 2021.

Amin Nasser, the chief executive officer of Saudi Aramco, the world’s largest oil company by revenues, said that it is “building a world-class energy hub that will accelerate solutions across the value-chain” with the help of SPARK’s anchor partners.

One such partner is Baker Hughes, a General Electric company, which will construct an oilfield services facility in SPARK. The park aims to establish the country’s energy infrastructure and supply chain services, while it provides a centralized location.