Email: info@franchise.ae
 
Search Business Opportunities
May, 07 2018

Saudi Aramco Signs an Agreement with Local Manufacturers

The agreement will boost the company’s ongoing support and responsibility to qualify Saudi small and medium-sized enterprises (SMEs) in organizations with Saudi Vision 2030.

Saudi Aramco Signs an Agreement with Local Manufacturers

Saudi Aramco has granted purchase agreements to 16 Saudi pressure vessel manufacturers as a part of the development of its In-Kingdom Total Value Add (IKTVA) programme.

The agreements carry a provision value of over $6.26 billion and will focus on the supply of pressure vessels by all 16 local manufacturers.

According to Saudi Aramco, the agreement will boost the company’s ongoing support and responsibility to qualify Saudi small and medium-sized enterprises (SMEs) in organizations with Saudi Vision 2030.

Saudi Aramco’s vice president of procurement and supply chain management, Abdulaziz Al Abdulkarim said, “These agreements, set for 10 years, will expand the local industry’s capability and provide high quality supply of materials and services to Saudi Aramco.”

He added, “IKTVA is a cornerstone of Saudi Aramco’s procurement process which will expedite localization, promote locally-based SMEs and help economic diversification in support of Saudi Vision 2030.”

Al Abdulkarim also said that small and medium-sized enterprises (SMEs) are the engine of innovation for economic growth and development.

He said “They have the agility, the know-how, the market expertise, and the products the oil and gas industry requires.”

“That is why Saudi Aramco recognizes the huge potential of SMEs and we believe the companies chosen under this agreement will step up to the challenge and meet the required expectations.”

Comment
User
Email
Star
Address
Related opportunities
  • Kitchen
    About: ROXX World store offers more than 800 products under one..
    Locations looking for expansion -NA-
    Establishment year 1995
    Franchising Launch Date 2010
    Investment size USD 50,000 - 100,000
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • Home Safety & Security
    About Smart GorkhaSmart Gorkha deals into the following security services.Services:Initiative..
    Locations looking for expansion -NA-
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size USD 50,000 - 100,000
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • Womens Wear
    About: Carlton London was formed in 1989 first as a renowned..
    Locations looking for expansion -NA-
    Establishment year 2007
    Franchising Launch Date 2017
    Investment size USD 100,000 - 500,000
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • Yoga classes
    About: Shiva Shakti Yoga is Pune - Based traditional Yoga School..
    Locations looking for expansion -NA-
    Establishment year 2000
    Franchising Launch Date 2017
    Investment size USD 50,000 - 100,000
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi -NA-