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Officials at the signing ceremony in Jeddah.

AVK Saudi Valves secures KAEC supply contract

RIYADH, December 8, 2016

King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, said it has signed a long-term master supplier agreement with AVK Saudi Valves Manufacturing Company (AVK), a leading supplier of valves and fire hydrants in the kingdom.

As per the deal, AVK will supply the city with its hitech products as the city continues to develop and expand its infrastructure.

With an annual turnover of SR2.2 billion ($586 million), AVK is one of the world’s largest manufacturers of valves, pipes and hydrants, focusing their expertise primarily on these core product areas.

AVK has been manufacturing locally in the Kingdom for over 30 years, and supplies projects across Saudi Arabia, Qatar and the UAE.

“This partnership is a key indicator of the caliber of companies working alongside KAEC in the delivery of a next generation city to support Vision 2030,” remarked Ahmed Linjawy, the deputy chief executive of KAEC.

"KAEC continues to partner with new best-in-class companies to maintain our ability to provide a premium infrastructure that empowers growth," he noted.

Ole Hedegaard, the managing director of AVK, said the company places the support of Saudi Arabia’s economy at the center of its business practices.

"Offering world-class skills and expertise to Saudi employees, we are currently on track to soon reach Saudization levels of over 40 per cent. Partnering with KAEC, a city designed to support the growth of Saudi into the future, is a natural direction for us, and we are very excited about the level of sustainable, high quality projects being developed there," he stated.
 
 "The new partnership with AVK supports a commitment by both parties to prioritizing the use of high quality domestically manufactured products in the growth of local communities," he added.

 Linjawy pointed out that KAEC’s continued development was evidence of the power of Vision 2030 to drive an economy beyond oil.

"The advanced infrastructure of the city has been developed in partnership with renowned industry leaders, focusing on a premium level product to increase safety and security for all investors," he added.-TradeArabia News Service




Tags: Supply | contract | KAEC |

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