Spark + Hutchison Ports JV to operate Spark’s dry port + logistics zone:Saudi Arabia’s energy city megaproject King Salman Energy Park (Spark) and Hong Kong’s Hutchison Ports have inked a concession agreement to operate Spark’s dry port and bonded logistics zone, according to a company statement. The concession will go to a joint venture owned by Spark and Hutchison Ports, dubbed Energy City Logistics Company (ECLC). No details regarding timelines, the value of the agreement, or the distribution of stakes in ECLC were disclosed.

ECLC will be the sole operator of the USD 400 mn logistics facility at Spark, the statement said. The space will handle containers, breakbulk and project cargo, and will also offer storage, warehousing, and customs clearance services to the tenants in addition to bonded and non-bonded logistics solutions. The dry port is earmarked for integration with the upcoming GCC rail link, the GCC highway, and other corridors transiting the Kingdom’s Eastern Province.

What they said: “The dry port is one of the key enablers for Spark’s ecosystem. The signing of the concession agreement marks an important milestone for the dry port moving to the operation readiness phase,” said Spark President and CEO Saif Al Qahtani.

About Spark: Work at the Saudi Aramco-managed 50 square km “energy city megaproject” kicked off in late 2019 when Saudi Arabia’s crown prince Mohamed bin Salman broke ground at the site. Spark’s industrial ecosystem is positioned to “capture the full economic value from the energy value chain in Saudi Arabia and throughout the region,” and is slated to contribute USD 6 bn annually to Saudi Arabia’s economy and create 100k jobs by its maturity, according to the project’s website.

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