Saudi Aramco Signs an Agreement with Local Manufacturers
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
  • About:Established in 2012,Hot Fut Sports,a venture of Hot Fut Sports..
    Locations looking for expansion -NA-
    Establishment year 1950
    Franchising Launch Date 2015
    Investment size USD 50,000 - 100,000
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi -NA-
  • Mobile & Communication/Internet Connections
    About: Cell Phone Repair (CPR), America's Largest chain of Cell Phone..
    Locations looking for expansion -NA-
    Establishment year 2004
    Franchising Launch Date 2017
    Investment size USD 50,000 - 100,000
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • 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-
  • Bike Rental
    About:Wicked Ride is a technology-driven two-wheeler rental company, offering premium,..
    Locations looking for expansion -NA-
    Establishment year 2013
    Franchising Launch Date 2017
    Investment size USD 100,000 - 500,000
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-