Taqa and Amco to invest further in King Salman Energy Park

Taqa and Amco are to set up further operations in Saudi Arabia’s King Salman Energy Park (Spark), with Taqa to develop an oilfield services facility and Amco to develop a pipe and valve manufacturing centre

Taqa and Amco are to set up further operations in Saudi Arabia’s King Salman Energy Park (Spark), with Taqa to develop an oilfield services facility and Amco to develop a pipe and valve manufacturing centre.

Taqa, an anchor tenant Spark, will expand its presence in the park with a brand new facility which will include operations for oilfield services, engineering and manufacturing and a wireline and perforation centre of excellence.

Construction work on Taqa’s new facility will begin in the second quarter of 2021, with design and developmental planning stages already underway.

“The new TAQA Industrial Park is a key element in TAQA’s growth strategy as we continue to expand our portfolio of offerings in the months and years to come, providing a home base for services offered by some of our recent acquisitions, including AZR Technologies and OPT, centralising our engineering, manufacturing and chemical blending activities among others. With our plans for future acquisitions focused on cutting-edge technology and innovative solutions, we further cement our alignment with Vision 2030 and the government’s drive to diversify and localise services and manufacturing in the Kingdom,” Taqa’s CEO Khalid Nouh revealed following the announcement.

Amco will invest more than SR260m ($69.3m) in a new manufacturing facility for steel pipes, valves, pumps, turbines and machine and rotary equipment.

The Spark development, is a new megaproject being constructed between Dammam and Al-Ahsa in the eastern province of the kingdom. It will cover a total area of 50 square kilometres.

Spark offers infrastructure at international specifications for global investors in the crude oil & gas industry and refining, petrochemical industries, electric power, and water production and treatment. SPARK will be comprised of five focal areas: Upstream, Downstream, Petrochemicals, Conventional Power, and Water & Wastewater.