Honeywell (Nasdaq: HON) is to open an advanced regional manufacturing center at the King Salman Energy Park (SPARK) — Saudi Arabia’s new energy industrial zone.
Industry sources added that this latest facility will become Honeywell’s eighth site in Saudi Arabia, reflecting both the company’s strategic growth objectives in the Kingdom and its support for Aramco’s In-Kingdom Total Value Add (IKTVA) program to advance local capabilities in research, development and manufacturing of cutting-edge technology.
The facility will comprise of the engineering, manufacturing, and assembly lines spanning Honeywell’s industrial automation and control equipment, field instruments, rugged mobile computers, gas detection equipment, fire safety systems, and building management systems hardware. Additional capacity for potential future manufacturing expansion, as well as customer demonstration facilities, is also planned.
Commenting on the announcement, Abdullah Al-juffali, Honeywell’s president of Saudi Arabia and Bahrain said; “The ground-breaking of our new facility at SPARK represents a significant investment and an important milestone in Honeywell’s long history of partnership Saudi Arabia, which dates back to 1948. We are proud to support Saudi Arabia’s most important companies in localizing and developing innovative technologies to advance critical sectors of the economy. SPARK is the perfect location for us to continue our journey of investment, localization, and growth in the Kingdom in line with its sustainability goals and broader Vision 2030 objectives.”
SPARK’s President and CEO, Saif Al Qahtani, stated; “We are delighted to welcome Honeywell to SPARK, in support of our localization objectives and commitment to expanding Saudi Arabia’s capabilities as a manufacturing and engineering powerhouse for the region’s energy sector. Honeywell’s investment in our ecosystem will contribute to local economic growth and help create more job opportunities for Saudi nationals in advanced technology sectors.”
Industry sources added that the latest facility will be developed in phases, with Phase One expected to be completed in 2024. Honeywell broke the ground for the facility at a ceremony attended by a delegation of global and regional Honeywell executives including Vimal Kapur, president and Chief Operating Officer, John Waldron, senior vice president and Chief Commercial Officer, Ben Driggs, president Global High Growth Regions, and Mohammed Mohaisen, president and CEO, Honeywell Middle East and North Africa, as well as and senior leaders from SPARK and Aramco.
SPARK is being developed into a 50km² industrial ecosystem designed to capture the full value from the energy value chain by acting as a principal gateway for the region’s energy sector. It contributes to Vision 2030 by supporting the Kingdom’s efforts in building a strong economy through diversification and localization of key sectors.
Active in Saudi Arabia for more than 70 years, Honeywell plays a vital role in supporting and advancing the Kingdom’s industries. Honeywell also runs a series of training programs that aid the country’s transformation into a knowledge-based economy. Alongside its own target of becoming carbon neutral across its operations and facilities by 2035, Honeywell is helping Saudi Arabia realize its goal of reaching net zero by 2060 through localized technology deployment.
