Al-Riyadh, Saudi Arabia, 3 Dhul Qi'dah1442 AH, 13 June 2021: King Salman Energy Park (SPARK) and Riyad Bank today signed a Collaboration Agreement (CA) on establishing Future Initiatives for Present, including SPARK Projects, SPARK Businesses and SPARK Life. The CA was signed by Eng. Saif Al Qahtani, President and CEO of SPARK, and Mr. Tareq Al Sadhan, President and CEO of Riyad Bank.
Saudi Industrial Development Fund (SIDF) and National Industrial Development and Logistics Program (NIDLP) had attended the ceremony.
The CA includes exploring several initiatives, valuable services and setting advanced Business Models, such as SPARK Projects, SPARK Pay, SPARK Sustainability and Efficiency, SPARK Scientists, SPARK Businesses and SPARK Business Enablers, SPARK Local Content, SPARK Think, SPARK Quality of Life, and SPARK Pass.
Riyad Bank is one of the major supporters of the Saudi Vision 2030 and its programs, especially through its role in developing and innovating many diverse initiatives specifically designed to support the business enablers of activities related to target sectors and businesses, supply chains, and logistics and support service providers. Additionally, the bank also contributes to stimulating domestic and foreign investment through its branches strategically located across the Kingdom and abroad in London, Houston, and Singapore, which are managed by specialized professional teams.
King Salman Energy Park (SPARK) is being developed to become a major integrated global energy and industrial hub founded on innovation, collaboration, and strong governance. SPARK offers smart infrastructure and world-class services that facilitate customer business growth and add sustainable value to society, in line with the goals of the Saudi Vision 2030. SPARK is the first industrial energy ecosystem in the region to lead sustainability efforts based on its innovative solutions.
SPARK has become the first industrial city in the world to receive Silver Level accreditation for Leadership in Energy and Environmental Design (LEED). Moreover, SPARK project was recognized as the first industrial city to obtain the Golden Sustainable Certification with distinction from Saudi Arabia Ministry of Housing.