Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Aramco empowers local capabilities with purchase agreements worth more than SR26 billion
Published in Saudi Press Agency on 05 - 05 - 2018

Saudi Aramco has further expanded its In-Kingdom Total Value Add (IKTVA) program and strengthened its relationship with local industry players by awarding purchase agreements to 16 Saudi pressure vessels manufacturers.
The agreements, carrying a procurement value of more than SR26 billion, further enhances the company's ongoing support and commitment to empower local companies within the small and medium-sized enterprises (SMEs) realm under IKTVA, in tandem with Saudi Vision 2030.
The purchase agreements, signed on May 1, will focus on the supply of pressure vessels by local manufacturers, mandated under IKTVA goals as well as to actively pursue Saudization targets. The 16 companies are expected to build up their capabilities and competitiveness throughout the 10 years agreement duration.
Abdulaziz A. Al Abdulkarim, Saudi Aramco Vice President of Procurement and Supply Chain Management, commended the manufacturers for developing robust IKTVA action plans that will increase the number of Saudi jobs and avail more business in pressure vessels components to local SMEs.
Al Abdulkarim set the expectations with the manufacturers to work closely with Saudi Aramco to increase the percentage of Saudization under these agreements at all levels and disciplines including engineers, welders and other professional skilled workers.
"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. 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. SMEs are the engine of innovation for economic growth and development. 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," he said.
Pressure vessels represent an integral and critical equipment group for oil & gas processing facilities that require sophisticated manufacturing capabilities and labor skills.
Saudi Aramco is also extending the IKTVA requirements to the procurement of other strategic materials such as drilling equipment, process automation systems, line pipes, pumps and valves.


Clic here to read the story from its source.