Saudi Arabia, 22 August 2022 – King Salman Energy Park (SPARK), a leading industrial ecosystem focused on sustainability, has announced the signing of a SAR 40 million investment agreement with Mubarak A. Al Suwaiket & Sons Oil & Gas Services Co.(MASO&G).Under the agreement, MASO&G will establish a manufacturing facility at SPARK to produce corrosion protection tapes using polyisobutylene (PIB), an environmentally friendly viscous compound. Additionally, the company will set up an oil tools equipment manufacturing and service center. This partnership reinforces SPARK’s reputation as an attractive investment hub, underlining its role as a premier industrial ecosystem at the heart of the energy sector. The collaboration with MASO&G further contributes to SPARK’s integrated ecosystem by advancing the localization of manufacturing and supporting the Kingdom’s clean energy production objectives. SPARK’s commitment to ESG principles is also reflected in its support for environmentally friendly technologies and products. The investment by MASO&G will aid in the creation of new job opportunities, aligning with SPARK’s goal to enhance local manufacturing capabilities. The agreement was formalized by Saif S. Al-Qahtani, President and CEO of SPARK, and Mubarak Abdullah Al Suwaiket, President of MASO&G. Saif S. Al-Qahtani remarked, “We are delighted to welcome a prominent local player in the oil and gas sector to SPARK. Our strategic partnerships with industry leaders strengthen the integrated ecosystem and help drive the localization of manufacturing. This, in turn, contributes to a more sustainable future for Saudi Arabia and the broader region.” Mubarak Abdullah Al Suwaiket expressed, “This partnership with SPARK aligns with our commitment to excellence and operational efficiency in the oil and gas sector. Our investment here will provide us with a sustainable environment to streamline operations and contribute to the Kingdom’s manufacturing localization efforts.” The new factory will occupy a 40,000-square-meter plot within SPARK and represents a SAR 40 million capital investment over the next three years. MASO&G is a subsidiary of Al Suwaiket Trading & Contracting Company, which offers services in infrastructure construction, oil and gas, agricultural projects, real estate development, travel and tourism, and food processing and trading.