Alfanar, a leading Saudi manufacturer of electrical and construction products, has signed a co-operation agreement with state oil giant Aramco which is aimed at boosting localisation, innovation, digitisation and sustainability in the kingdom.
These 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, said Alfanar.
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, the largest privately developed manufacturing facility in the Middle East which is spread across 720,000 sq m.
Commenting on the MoU, Al Saadi said: “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.”
Currently, the initiatives that were signed under the MoU cover the following sectors: manufacturing, engineering, procurement and construction (EPC), modularisation, commercialisation of intellectual properties (IP), energy efficiency and environmental protection, Alfanar added.
Al Mutlaq pointed out that 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,” he stated.
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.
Aramco team lauded 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, it added.