MASARAT Mobility Park has entered into a development lease agreement with FPI Gulf to establish an automotive parts manufacturing facility, marking a key milestone in the Park’s development.This agreement strengthens MASARAT Mobility Park’s position as the premier destination for localizing the automotive and mobility value chain in Saudi Arabia. At the PIF Private Sector Forum 2026, MASARAT Mobility Park announced the signing of a development lease agreement with Fortune Parts Industry Gulf (FPI Gulf), a Joint venture between Thailand based FPI Group and local partner Fuel Autoparts Company. This milestone represents a significant step in the Park’s development and supports the localization of automotive manufacturing in the Kingdom, in line with Vision 2030. Under this agreement, FPI Gulf, a global leader in automotive manufacturing services, will establish an automotive parts factory at MASARAT Mobility Park, located within King Salman Automotive Cluster in King Abdullah Economic City (KAEC), reinforcing the Park’s position as Saudi Arabia’s leading destination for automotive and mobility industries. Commenting on the announcement, Tienie Ferreira, Chief Executive Officer of MASARAT Mobility Park said: “This agreement underscores the strategic value of MASARAT Mobility Park as a purpose-built destination for automotive manufacturing.

Source: GNN Liberia February 10, 2026 08:46 UTC