Aramco has announced its supply chain transformation programme In-Kingdom Total Value Add (iktva) has achieved its target of 70 per cent local content.

Aramco also announced its intention to further increase the local content in its procurement of goods and services to 75 per cent by 2030.

Since its inception, the iktva programme has contributed more than $280 billion to Saudi Arabia’s GDP, reinforcing its role as a key driver of industrial development, economic diversification, and long-term fiscal resilience.

By localising goods and services, iktva has strengthened the resilience and reliability of Aramco’s supply chain, reduced supply-chain vulnerability, enhanced operational continuity, and provided a shield against global cost inflation – capabilities that have proven critical during periods of disruption.

Amin Nasser, Aramco President & CEO, said: “I am immensely proud of the transformational effect iktva has had on Aramco and its positive impact on Saudi Arabia’s economy. This announcement marks a major milestone in the programme’s journey and reflects an important leap in the Kingdom’s industrial development, which is largely aligned with our ambitious national vision. iktva is a core pillar of Aramco’s strategy to build a competitive national industrial ecosystem that supports the energy sector, while also enabling broader economic growth and creating thousands of job opportunities for Saudi nationals. By localising the supply chain, iktva ensures operational reliability while mitigating disruption. Its 10-year cumulative impact reflects the depth and sustainability of the value it continues to generate.” -OGN/TradeArabia News Service