Alfanar and Aramco have agreed to build sustainable cooperation by signing a memorandum of understanding (MoU) which covers various initiatives that are aimed to augment localisation, innovation, digitisation, and sustainability in the kingdom
The initiatives are in line with the In-Kingdom Total Value Add (IKTVA) flagship programme that Aramco launched 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.
“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,” Al Mutlaq said.
“Through a collaborative and inclusive model, we are committed to work with private companies to ensure that the local content objectives of Saudi Arabia are achieved,” Al Saadi added.
Currently, the initiatives that were signed under the MoU cover the following sectors: manufacturing, EPC, modularisation, commercialisation of intellectual properties (IP), energy efficiency and environmental protection
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 which is spread across 720,000 sqm. The guests toured Alfanar’s various factories and visited the ladies’ 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 professional women.
Aramco 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.
