King Salman City Signs Smart Manufacturing Pact

King Salman Energy City "SPARK" has signed a lease agreement with Dalipal Holding Limited for a land area of 1,030,916 square meters for a period of 25 years, with the goal of establishing a smart manufacturing platform for energy equipment in Saudi Arabia. DaliBal International Industries, its subsidiary, will invest approximately $600 million in the project's initial phase, which is valued at a total of around $2.1 billion. This investment aims to develop capabilities for manufacturing oil and gas pipelines, drilling pipes, and hydrogen pipes. The project seeks to enhance local manufacturing capabilities, support the localization of supply chains, and strengthen the Kingdom's position in the regional and global energy markets. It represents a significant step in the company's long-term expansion strategies in Saudi Arabia and reflects Chinese companies' confidence in the Saudi market and its growth opportunities.

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