RIYADH, 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.

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.