National Energy Services Reunited Corporation (NESR) signed a land lease agreement with Saudi Aramco to build an operating facility in the newly launched King Salman Energy Park (SPARK), the company said in a statement on Wednesday.
The new facility is NESR's flagship operating facility in the Kingdom and will host all its product lines as well as that of its technical partners, the statement said.
"We have considerable experience in local manufacturing and indigenizing the supply chain which is already being implemented in the Kingdom," Sherif Foda, NESR chairman and CEO, said.
SPARK is a 50 square kilometer energy city megaproject, and the first phase, with an investment of approximately $1.6 billion, will be completed by 2021.
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