King Salman Energy Park (SPARK) and Chinese manufacturer Dalipal Holdings signed a 25-year land lease agreement on October 13, 2026. Under the agreement, Dalipal International for Industry Company will develop a 1,030,916-square-meter site located within the Saudi industrial hub.
The project involves an overall investment ambition of approximately $2.1 billion, according to the report. Approximately $600 million has been committed to the initial development phase of the project.
The planned facility will serve as a smart manufacturing base focused on high-end energy equipment. It is set to produce seamless steel pipes, oil and gas tubular goods, and specialized hydrogen transmission pipelines intended for energy markets across the Gulf and globally.
Sources
- TradeArabia · 2026-10-13
