Riyadh – Mubasher: Saudi Arabia has launched a project for China-based Pan Asia with a cost of SAR 3.9 billion ($1.04 billion) in King Salman Energy Park’s (SPARK) project, an official in the Ministry of Energy, Industry, and Mineral Resources said late Tuesday.
The plant will produce PET and PTA chemicals which are used in the packaging and textiles industries, the Saudi Press Agency (SPA) reported, citing the top and unnamed ministry official as saying.
This project is expected to provide a large number of job opportunities for Saudis and offer exports to African and European markets.
In December, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud laid the foundation stone for the first phase of the SPARK project.
In the same month, Baker Hughes revealed plans to establish a facility in SPARK to provide oilfield services, while the Saudi energy minister Khalid Al Falih revealed that 12 deals had been signed at a combined value of around SAR 1.2 billion.
