Saudi's King Salman Energy Park (SPARK) has secured investment agreements totaling over 3 billion Saudi riyals (nearly $800 million) at ADIPEC 2024 to establish manufacturing facilities in the Kingdom.

The letters of intent, signed with BioChem, MAN Industries, Primetech International, Thermocables, and Dalipal Holdings, are expected to create more than 3,000 direct and indirect jobs upon completion, SPARK said in a press statement.

BioChem plans to build a 100,000-square-metre (sqm) facility to produce 20 kilotonnes of xanthan gum annually, a product used in drilling fluids.This plant will be the first of its kind in the GCC and MENA regions.

MAN Industries intends to develop a 360,000-sqm facility focused on large-diameter carbon steel pipes with anti-corrosion coatings.

Primetech International Company aims to produce blow-out preventers and manifolds

Thermocables plans to establish a 10,000-sqm manufacturing hub specialising in high-quality specialty cables.

Dalipal Holdings, manufacturer oil country tubular goods, will make seamless steel pipes, on a site spanning over 1,000,000 sqm.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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