Dr. Khalid Al Sultan (left, standing), Rector of KFUPM & Chairman of DTV Company Board; Dr. Halim Hamid Redhwi, CEO (A) of DTV Company; and Franco Restelli, President of Invensys Europe, Middle East and Africa, sign the agreement. Najeeb Al Naim, General Manager Invensys Saudi Arabia, Bahrain & Pakistan; along with other executives witnessed the signing of accord.
INVENSYS, a UK-based multinational company specialized in developing automation & control systems, signed an agreement yesterday to set up a world-class R&D Center within Dhahran Techno Valley (DTV) at King Fahd University of Petroleum & Minerals. The agreement was signed by Dr. Khalid Al Sultan, Rector of KFUPM & Chairman of DTV Company Board; Dr. Halim Hamid Redhwi, CEO (A) of DTV Company; and Franco Restelli, President of Invensys Europe, Middle East and Africa. Also in attendance was Najeeb Al Naim, General Manager Invensys Saudi Arabia, Bahrain & Pakistan. The agreement highlighted the intention of Invensys to establish a center for research and development in the field of automation & control systems for oil & gas; energy and construction sectors. The total land area leased for the purpose is approximately 8 thousand square meters. Al Sultan expressed his appreciation to have Invensys in the list of companies in DTV Science Park, especially as they work in a very important field of developing advanced techniques for the control systems. He said the objectives of establishing DTV is to promote knowledge-based economy in the Kingdom. He added that "DTV is a unique world class research complex specialized in the energy sector and the peripheral fields. He also mentioned that "Seven centers are currently operational in DTV and remaining five R&D centers are in different phases of design and construction. KFUPM plans to flourish the valley in three phases of construction, of which the first phase is nearing completion.” Restelli said that Invensys develop, design and supply advanced technologies (both hardware and software) that improve operational performance and efficiency of oil refineries, power plants, mining companies and food industry. He noted that "Invensys is proud to work with all of the leading companies in oil & gas, power and energy sector in the Kingdom and that the R&D Center in DTV will begin its operations in early 2015. Redhwi said DTVC, through the establishment of its science park, has embarked onto creating the culture of technology development and technology transfer among the various stakeholders, including KFUPM, Saudi Aramco, companies in DTV Science Park, etc. The move is in line with the Saudi national strategy of promoting knowledge-based economy. Dhahran Techno Valley is renowned globally as world-class research complex housing energy-centric multinational giant companies R&D centers. — SG
