Saudi Arabia's King Abdullah Economic City (KAEC) has signed a long-term master supplier agreement with AVK Saudi Valves Manufacturing Company (AVK), a leading supplier of high quality valves and fire hydrants.

As a leader in its industry, AVK will supply the city with its state-of-the-art products as the city continues to develop and expand its infrastructure.

KAEC is the largest privately-funded new city in the world. Situated on the west coast of Saudi Arabia, the city covers an area of 181 sq km of land, approximately the size of Washington DC. It comprises King Abdullah Port, the Coastal Communities residential districts, the Haramain Railway district and the Industrial Valley. The city is under development by Emaar, The Economic City, a publicly listed Saudi joint-stock company established in 2006.

“This partnership is a key indicator of the calibre of companies working alongside KAEC in the delivery of a next-generation city to support Vision 2030,” said Fahd Al Rasheed, group CEO and managing director of KAEC.

“KAEC continues to partner with new best-in-class companies to maintain our ability to provide a premium infrastructure that empowers growth.”

With an annual turnover of approximately SR2.2 billion ($586 million), AVK is one of the world’s largest manufacturers of valves, pipes and hydrants. It has been manufacturing locally in the kingdom for over 30 years, and supplies projects across Saudi Arabia, Qatar and the UAE.

“AVK places the support of Saudi Arabia’s economy at the centre of its business practices. Offering world-class skills and expertise to Saudi employees, we are currently on track to soon reach Saudisation levels of over 40 per cent. Partnering with KAEC, a city designed to support the growth of Saudi Arabia into the future, is a natural direction for us, and we are very excited about the level of sustainable, high quality projects being developed there,” said Ole Hedegaard, managing director of AVK.

“The new partnership with AVK supports a commitment by both parties to prioritising the use of high quality domestically manufactured products in the growth of local communities,” he said.

“KAEC’s continued development is evidence of the power of Vision 2030 to drive an economy beyond oil,” said Fahd Al Rasheed. “The advanced infrastructure of the city has been developed in partnership with renowned industry leaders, focusing on a premium level product to increase safety and security for all investors.” - TradeArabia News Service