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Siemens signs agreements with Saudi Aramco

DAMMAM, December 19, 2016

Saudi Aramco and Siemens have inked several agreements to collaborate in the fields of renewable energy, research and development, as well as digitalization in the oil & gas industry during the recent IKTVA Forum in Dammam, Saudi Arabia.

Amin Nasser, president and CEO of Saudi Aramco, said: “Saudi Aramco’s agreements with Siemens resonates with the overall goals of the IKTVA programme where partners collaborate closely to drive additional domestic value creation, support the Kingdom’s economic transformation and enable the future prosperity of the Kingdom. The participation of partners like Siemens in IKTVA is crucial to enabling a sustainable and competitive world-class Saudi energy sector.”

The “In Kingdom Total Value Add” (IKTVA) programme, which marked its first anniversary at the IKTVA Forum this month, is instrumental in leveraging opportunities to drive additional domestic value creation and support a rapidly changing Saudi economy.

Joe Kaeser, president and CEO of Siemens AG, said: “While factors such as economics, technology and organizational capability continue to drive competition, the localization of value chains in Saudi Arabia is a compelling driver for the Kingdom’s Vision 2030. Our strategy resonates with this approach because we believe that business must add lasting value to communities. Localization is therefore critical for further advancing the Kingdom of Saudi Arabia.”

Siemens investments in the expansion of its local footprint expansion across the value chain translates into creating quality jobs for Saudi nationals, enhancing innovation, economic diversification and increased global competitiveness for the Kingdom.

Furthermore, Siemens signed an MoU with the MiSK Foundation, an independent non-profit organization that aims to advance youth development in technology, business and arts. The MoU outlines the joint intention to expose a greater number of Saudi youth to advanced technologies, to expand the Kingdom’s tech community, and to develop the next generation of business leaders and experts in digital technology.

Arja Talakar, CEO of Siemens Saudi Arabia, added: “Our partnerships with stakeholders in Saudi Arabia are fully in line with the Saudi Vision 2030 and with the IKTVA objectives. Our joint activities tremendously contribute to the objectives of high-tech development in the Kingdom, create new and highly qualified jobs for Saudi citizens, diversify local industries, drive energy efficiency and advance the environmental aspects in the Kingdom.” – TradeArabia News Service




Tags: Saudi Aramco | Siemens | IKTVA |

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