Friday 5 March 2021
 
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Al Saadi and Al Mutlaq signing the MoU

Alfanar, Aramco sign MoU to further promote localisation

, 15 days ago

Alfanar and Aramco have signed a Memorandum ‎of Understanding (MoU) for sustainable cooperation to covers various initiatives aimed at augmenting localisation, innovation, digitisation, and sustainability in the Kingdom.
 
The initiatives are in line with the In-Kingdom Total Value Add (IKTVA) flagship programme launched by Aramco to support economic development through local content increment. ‎ 
 
‎The MoU was signed by Ahmad Al Saadi, Senior Vice-President of Technical Services, Aramco and Abdul Salam Al Mutlaq, Chairman, Alfanar at the Alfanar Industrial City located in Riyadh.
 
The MoU was signed during a visit by Aramco’s senior management to Alfanar Industrial City, the largest privately developed manufacturing facility in the Middle East spread across 720,000 sq m.
 
Al Mutlaq said: “Innovation, digitalisation and localisation have always been Alfanar’s pillars of commitment towards the development of a sustainable business. This is a historic moment for us at Alfanar to partner with Aramco and to work together in further developing the local content.”
 
Commenting on the MoU, Al Saadi said: “Through a collaborative and inclusive model, we are committed to work with private companies to ensure that the local content objectives of the Kingdom of Saudi Arabia are achieved.”
 
Currently, the initiatives as per the MoU cover the following sectors: manufacturing, EPC, modularisation, commercialisation of intellectual properties (IP), energy efficiency and environmental protection.
 
Later, the guests toured Alfanar’s various factories and visited the women’s section, which employs more than 700 Saudi women for the production of electrical circuit breakers.
 
The number of female workers in this section has surged in recent years as proof of Alfanar’s commitment to Vision 2030’s goal of empowering women.
 
Aramco has recognised Alfanar Industrial City as a successful example of the private sector’s important role in localising industry and enhancing national capacity with professionalism and high efficiency. 
 
Alfanar is one of a very few companies with a diversified portfolio of products and services globally that manufactures electrical and construction products from its six facilities worldwide. It develops and constructs projects globally and is involved in field services, and operation and maintenance. –Tradearabia News Service



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