- 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.
RIYADH, Saudi Arabia--BUSINESS WIRE--
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.
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From left to right: Noppawit Tanadumrongsak, Managing Director of FPI India; Abdulrahman Binmahfooz, Managing Director of FPI Gulf; Tienie Ferreira, CEO of MASARAT Mobility Park; and Muhammed Alshiha, Chairman of MASARAT Mobility Park, during the signing ceremony at the PIF Private Sector Forum 2026 in Riyadh. (Photo: AETOSWire)
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.
The facility will specialize in the production and distribution of automotive components using plastic injection molding, chrome plating, and painting technologies. It will serve both local and international Original Equipment Manufacturers (OEMs), contributing to the strengthening of Saudi Arabia’s automotive supply chain.
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. Welcoming FPI Gulf as our anchor tenant strengthens the Park’s role in enabling an integrated ecosystem that brings together manufacturing, logistics, and industrial infrastructure in a single location.”
Sompol Tanadumrongsak, Chief Executive Officer of FPI Group and President of Thai Auto-Parts Manufacturing Association (TAPMA), added: “Saudi Arabia represents a strategic growth market for FPI Group, and our collaboration with MASARAT Mobility Park marks an important step in expanding our regional footprint. The Park offers a well-connected, investment-ready platform for establishing advanced manufacturing operations to serve local and regional automotive markets. This initiative reflects our long-term commitment to the Kingdom and our support for localization and capability development.”
This milestone reinforces MASARAT’s role as a leading enabler of automotive localization, supported by integrated industrial and logistics capabilities, advanced infrastructure, multimodal connectivity, and Special Economic Zone incentives. This Partnership underscores the Park’s commitment to attracting global industry players, and accelerating the development of a competitive, localized automotive and mobility value chain.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20260211304060/en/
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