Ministry of Health Launches Remote Clinics Service    King, Crown Prince congratulate Governor General Hurley on Australia Day    Portugal President Marcelo Rebelo de Sousa re-elected    SAGO completes procedures to import 660,000 tons of barley    Jafza, STAR-K Kosher to promote production of kosher-certified food in Dubai    AC Milan signs Jeeny as official regional partner    Russia Reports 19,290 New Coronavirus Cases, 456 Deaths    Australia approves Pfizer vaccine    Mexico president tests positive for coronavirus    Kallas to become Estonia's first female prime minister    Five people killed in Indianapolis' 'largest mass casualty shooting'    Red Sea Lodge offers creative development for 12 teams of Saudi and Arab filmmakers    Asian Shares Rise    Saudi Press: Ministry of Health Calls for Adherence to Precautionary Measures    Saudi Arabia targets hiring 115,000 citizens in private sector    Saudi ROTAX Cup Challenge at FunXtreme circuit in Dirab proves a draw    Fahd Al-Mubarak is SCB governor; Municipal and housing ministries merged    Renowned Saudi writer Abdullah Manna dies    Royal Orders Issued    Hiring of Saudis up 2.9% with 49,000 new jobs; non-Saudis numbers down by 2.6% in 2020    Fearless Hatton storms to famous Falcon Trophy win in Abu Dhabi    UNA Acting Director General Receives IPA Official    New dates confirmed for Saudi Arabia's debut F1 grand prix Jeddah street race retains its prime calendar position as season's penultimate grand prix    Saudi Stock Exchange Main Index Ends Trading Lower, at 8,829.52 Points    Pakistan Approves Russian Sputnik V COVID-19 Vaccine's Emergency Use    Germany's Confirmed Coronavirus Cases Rise by 12,257 to 2,134,936    Legendary talk show host Larry King dies at 87    Real Madrid coach Zidane tests positive for COVID-19    Intellectual Property Authority Seizes 11,620 Articles Violating Creative Rights, 77 Websites Violating Intellectual Property Systems During January    Saudi Ports Achieve 6% Increase in Transshipment during December 2020    SAGO Issues Tender to Import 480,000 Tons of Barley    SR40mn funding for 28 Saudi cinematic projects    Film Commission Launches 28 Cinematic Projects for Winners of Daw' Film Competition    SASCA in Dammam Sets a Deadline for Receiving Participations in International Video Art Forum    French Driver Peterhansel Wins Dakar Rally Saudi Arabia 2021    Rangers win Old Firm derby, 50 years since Ibrox disaster    Dakar Saudi Arabia 2021 Rally to fully Kick off for 13-Day on Sunday    Saudi Film Commission Opens Registration Doors for Digital Filmmakers' Program    Dakar Saudi Arabia 2021 Rally to Kick off, on Saturday    Saudi Arabia Names " Scales" Film to Represent it in Oscars    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Court facilitates young woman's marriage after stripping father's guardianship    Bahrain's top Islamic body condemns attempts to insult Muslim symbols    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    S. P. Bala, legendary Indian singer, dead at 74    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Aramco Announces Expansion of Its Flagship Localization Program
Published in Saudi Press Agency on 30 - 11 - 2020

Aramco today announced the expansion of its flagship program to increase local content and boost domestic supply chains. It is a significant milestone in the company's In-Kingdom Total Value Add (iktva) program, which marks its fifth anniversary on December 1st. The expansion includes plans for new international partnerships and the establishing of companies through an Industrial Investment Program (IIP), which is linked to the development of Aramco's business.
Aramco has signed MoUs with Shell & AMG Recycling BV (AMG) from the Netherlands; Chinese firms Suzhou XDM, Shen Gong, Xinfoo and SUPCON; and Posco from South Korea.
These strategic collaborations pave the way for the launch of new businesses across multiple innovative growth sectors, including steel plate manufacturing, industrial 3D printing, digital equipment manufacturing, energy management and control; catalyst manufacturing and recycling, and advanced chip and smart sensor manufacturing.
These new collaborations reflect Aramco's commitment to increasing the company's reliability and operational efficiency, as well as its commitment to further enhancing the Kingdom's commercial ecosystem and increasing employment and development opportunities for talented Saudis.
Eng. Amin bin Hassan Al-Nasser, Aramco's President and Chief Executive Officer said that since iktva's launch, Aramco's local content index has increased from 35% at the end of 2015 to 56%. He added: "Today's announcement is a step change in Aramco's pioneering IKTVA program which was launched in 2015. Despite the uncertainties surrounding the global economy, we have sustained our focus on our long-term goals to enable growth and development for a thriving ecosystem and a more diversified Saudi economy.
These new partnerships will contribute to advancing innovation, sustainability and enhance the scale of reliability in our business ecosystem and, in addition, benefit companies operating in the Kingdom's vast energy and chemicals sector. These partnerships will also have a strong focus on new technologies, by maximizing our investments in non-metallic materials and the circular carbon economy, as well as the development of talented Saudis in communities where we operate."
Ahmad Al-Saadi, Aramco's Senior Vice President of Technical Services, said: "Aramco has a long history of supporting the local business ecosystem. Our iktva program is a manifestation of our commitment to this and the resulting investments, either directly by Aramco or indirectly by suppliers, have promoted localization, contributed to Aramco's supply chain resilience and enhanced Saudi Arabia's economic growth. Our planned partnerships will continue this journey and advance the Kingdom's economic progress. We intend to act as an enabler, supporting the growth of national champions. Today we are expanding our flagship program, and expect more partnerships in the future."


Clic here to read the story from its source.