Alfanar signs MoU with Aramco to develop in-Kingdom initiatives
Initiatives align with Aramco’s In-Kingdom Total Value Add (IKTVA) programme
Saudi-based Alfanar has signed a co-operation agreement with Aramco, which aims to augment localisation, innovation, digitisation and sustainability in the Kingdom. The initiatives covered under the MoU include: manufacturing, EPC, modularisation, commercialisation of intellectual properties (IP), energy efficiency and environmental protection, said a statement from Alfanar.
The initiatives align with the In-Kingdom Total Value Add (IKTVA) programme that Aramco launched to support economic development through local content increment, the company noted.
The MoU was signed by Ahmad Al Saadi, senior VP of Technical Services at Aramco and Abdul Salam Al Mutlaq, chairman of Alfanar at the Alfanar Industrial City. The city is said to be the largest privately developed manufacturing facility in the Middle East and is spread across 720,000sqm.
“Through a collaborative and inclusive model, we are committed to working with private companies to ensure that the local content objectives of Saudi Arabia are achieved,” Al Saadi said.
Al Mutlaq said that innovation, digitalisation and localisation have always been Alfanar’s pillars of commitment towards the development of a sustainable business. He added, “This is a historic moment for us at Alfanar to partner with Aramco and to work together in further developing local content.”
Following the signing ceremony, Aramco’s senior management toured Alfanar’s various factories and also visited the ladies’ section, which employs more than 700 Saudi women in the electrical circuit breakers production unit. 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, the company explained.
