Saif Al Qahtani named CEO of Saudi Arabia's Aramco-backed Spark
CEO's appointment confirmation follows board meeting by Energy City Development Co, the owner and developer of Spark
Saif S Al Qahtani has been named president and chief executive officer of Energy City Development Co, the owner and developer of King Salman Energy Park (Spark), a megaproject launched by Saudi Arabia’s Crown Prince HRH Mohammed Bin Salman on 10 December, 2018 as part of the kingdom’s long-term Vision 2030 mandate.
Saudi Industrial Property Authority (Modon) awarded Saudi Aramco a development licence for Spark in July 2018. Modon director-general, Eng Khalid Al-Salem, handed over the development documentation to Saif Al-Qahtani, whose LinkedIn profile lists him as director of corporate planning at Aramco between April 2016 and July 2018.
Al Qahtani’s appointment was confirmed after a board meeting chaired by Mohammed Y Al Qahtani, senior vice president of upstream at Saudi Aramco.
To date, Spark has attracted 26 tenants across a 4.81km2 space, representing 80% of Phase 1’s industrial area.
Energy City Development Co’s board members include Abdulhamid A Al Rashid, vice president of drilling and workover; Mohammed I Al Assaf, vice president of new business development; Mohammad A Al Shammary, vice president of procurement and supply chain management; and Bassam M Asiri, assistant controller.
Al Qahtani’s appointment as president and CEO was approved by the board, which also agreed on a 2019-21 business plan for the company, as well as its 2019 budget.
The company’s management guidelines, financial policies, contract and procurement management, human resources, and the authorities of the president and CEO were also approved during the meeting.
عُقد الاجتماع الأول لمجلس إدارة شركة مدينة الطاقة للتطوير برئاسة النائب الأعلى للرئيس للتنقيب والإنتاج في أرامكو السعودية، رئيس مجلس إدارة شركة مدينة الطاقة للتطوير، الأستاذ محمد يحيى القحطاني. pic.twitter.com/17m9i3FsNR— Spark (@ksa_spark) March 14, 2019
Commenting following the board meeting, Aramco’s senior VP of upstream said: “We are pleased to launch the operations of Energy City Development Company, which carries out the basic role of developing the infrastructure of Spark according to the best standards, providing facilities and services, and operating and maintaining the park city to attract local and world investors in the field of energy.”
Saudi Arabia’s Council of Ministers approved a decision to establish Spark in July 2017, following which Saudi Aramco commenced studies and surveys into the project, alongside key suppliers.
The state-held oil giant will establish its main drilling and workover headquarters at Spark, alongside a centre for procurement and supply chain management.
Spark is divided across five areas including the industrial; logistics; business; training; and residential and commercial areas.
The industrial zone is further divided across five specialised clusters each for general industrialisation; electrical and equipment; liquids and chemicals; metals fabrication; and industrial services.
Meanwhile, Spark’s logistics area will include a storing and re-exporting hub that will be connected with the GCC Rail network in the future.