RIYADH, Jan 25 (NNN-SPA) – The Saudi Arabian Oil Company (Aramco), announced yesterday, the signing of 50 new deals with local and international companies, in a bid to improve the resilience of its supply chain.
The deals, signed at the 6th edition of the In-Kingdom Total Value Added (IKTVA) Forum and Exhibition, organised by Aramco, cover partnership on climate leadership and digitalisation with U.S.-based oilfield services company, Schlumberger, and carbon fibre investment collaboration with Alfanar company, engaged in manufacturing electrical construction products.
Progress in the Aramco’s sustainable business development is also showcased at the forum, which runs until tomorrow, in the eastern coastal city of Dhahran.
Aramco’s strategic IKTVA programme, aims to drive domestic value creation, maximise long-term economic growth and diversification, and build a world-class supply chain that facilitates the development of a diverse, sustainable and globally competitive energy sector in Saudi Arabia, at a time when global supply chains have been disrupted by the COVID-19 pandemic.
The programme, which has attracted more than 540 investments to Saudi Arabia from 35 countries, has helped establish a competitive industrial base, resulting in exports to more than 40 countries, according to Aramco.– NNN-SPA