{"id":71807,"date":"2023-07-04T00:00:00","date_gmt":"2023-07-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/04\/saudi-arabias-spark-and-hutchison-ports-form-jv-to-manage-and-operate-the-zones-dry-port\/"},"modified":"2023-07-04T00:00:00","modified_gmt":"2023-07-04T00:00:00","slug":"saudi-arabias-spark-and-hutchison-ports-form-jv-to-manage-and-operate-the-zones-dry-port","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/07\/04\/saudi-arabias-spark-and-hutchison-ports-form-jv-to-manage-and-operate-the-zones-dry-port\/","title":{"rendered":"Saudi Arabia\u2019s Spark and Hutchison Ports form JV to manage and operate the zone\u2019s dry port"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\">Spark + Hutchison Ports JV to operate Spark\u2019s dry port + logistics zone:<\/span><span style=\"\">Saudi Arabia\u2019s <\/span><span>energy city megaproject King Salman Energy Park (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spark.sa\/\" style=\"\">Spark<\/a><\/span><span>) and Hong Kong\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hutchisonports.com\/en\/\" style=\"\">Hutchison Ports<\/a><\/span><span> have inked a concession agreement to operate Spark\u2019s dry port and bonded logistics zone,<\/span><span> according to a company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hutchisonports.com\/en\/media\/news\/spark-hutchison-ports-sign-a-concession-agreement-to-develop-a-dry-port-bonded-logistics-zone-area-in-the-worlds-most-leading-mega-energy-hubs-in-saudi-arabia\/\" style=\"\">statement<\/a><\/span><span>. <\/span><span>The<\/span><span style=\"font-weight:400;\"> 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. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ECLC will be the sole operator of the USD 400 mn logistics facility at Spark<\/span><span>,<\/span><span style=\"font-weight:400;\"> 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\u2019s Eastern Province. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said:<\/span><span style=\"font-weight:400;\"> \u201cThe dry port is one of the key enablers for Spark\u2019s ecosystem. The signing of the concession agreement marks an important milestone for the dry port moving to the operation readiness phase,\u201d said Spark President and CEO Saif Al Qahtani. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About Spark:<\/span><span> Work at the Saudi Aramco-managed 50 square km \u201cenergy city megaproject\u201d kicked off in late 2019 when Saudi Arabia\u2019s crown prince Mohamed bin Salman <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2018\/spark-new-era-of-growth-for-saudi-arabia\" style=\"\">broke ground<\/a><\/span><span> at the site. Spark\u2019s industrial ecosystem is positioned to \u201ccapture the full economic value from the energy value chain in Saudi Arabia and throughout the region,\u201d and is slated to contribute USD 6 bn annually to Saudi Arabia\u2019s economy and create 100k jobs by its maturity, according to the project\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spark.sa\/page\/Our_Identity\" style=\"\">website<\/a><\/span><span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dry port is earmarked for integration with the GCC Rail and the linked highway<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[17,549,31,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71807","post","type-post","status-publish","format-standard","hentry","category-zones","tag-enterprise-logistics","tag-port","tag-saudi-arabia","tag-zones","wpautop","entry"],"acf":{"mongo_id":"5778f1b4-e74b-4ed5-8433-971fda578a0a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/8.jpg,https:\/\/hutchisonports.com\/en\/media\/news\/spark-hutchison-ports-sign-a-concession-agreement-to-develop-a-dry-port-bonded-logistics-zone-area-in-the-worlds-most-leading-mega-energy-hubs-in-saudi-arabia\/","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Arabia\u2019s Spark and Hutchison Ports form JV to manage and operate the zone\u2019s dry port","related_issue":[71800],"teaser":"The dry port is earmarked for integration with the GCC Rail and the linked highway","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.0397d787-8470-4a57-825a-ef951648b477.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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