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FinancialNews
23-11-22
Saudi Aramco inks 59 deals under iktva plan to establish 5,000 employment opportunities
(MENAFN) Saudi Aramco, one of the largest energy producers across the whole world, has inked 59 corporate procurement deals under its ‘In Kingdom Total Value Add’ plan with 51 domestic and worldwide producers.
These agreements, with a worthy of USD11 billion, have the chance to add 5,000 employment opportunities in the nation.
The so-called iktva venture was started by Saudi Aramco 7 years ago (2015) to baseline, measure as well as support surged rates of localization in the nation, in line with creating a world-class supply chain, as shown by its website.
A press release mentioned that these 59 deals shows several strategic commodities, such as drilling chemicals, wellhead, switchgear, vibration monitoring systems, pipes, compressors, structure steel, fittings and flanges, as well as air-cooled heat exchangers.
Some of the mentioned companies that inked deals with Aramco involve Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, in addition to TechnipFMC.
“The CPA holders will be our future strategic manufacturing partners for these commodities, and the agreements further broaden our localization infrastructure across the Aramco network,” as stated by Mohammad A. Al-Shammary, Aramco vice leader of Procurement and Supply Chain Management.
MENAFN23112022000045014228ID1105222870
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