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KING ABDULLAH ECONOMIC CITY: In efforts to establish King Abdullah Economic City (KAEC) as a vision-ready destination and leading automotive sector enabler alongside third-party investors and partners, KAEC and OWS Automotive signed a Strategic Agreement to develop vehicle remanufacturing, assembly, upgrade & reset within the city. The Strategic Agreement has set the course for a future roadmap to build OWS’s head office and facility for Saudi Arabia in the city, helping to further cement KAEC as a key supporter of the regional automotive industry.
The agreement was signed by Cyril Piaia, Chief Executive Officer of King Abdullah Economic City, and Oweis Zahran, Chief Executive Officer of OWS Automotive on the side lines of the Aramco Team Series competition held at the Royal Greens Golf & Country Club in KAEC last Friday.
Under the provisions of the agreement, the two parties will work in tandem to establish OWS Saudi Arabia in KAEC, serving as the launch platform for the company's entry into the Kingdom of Saudi Arabia. The agreement focuses on creating Maintenance Repair Overhaul (MRO) service centres, re-manufacturing & parts logistics facilities, accommodation for staff, business development functions and marketing activations from within KAEC.
Through the agreement’s initiatives, the two groups also aim to introduce innovative automotive services as well as manufacturing capabilities in KAEC and the Industrial Valley, creating nearly 1,000 new jobs in the process.
Founded in the United States 30 years ago, OWS Automotive focuses primarily on providing governments and corporate fleets with sustainable services ranging from first response, parts re-manufacturing, state-of-the-art systemization & fleet maintenance repair and overhaul.
“We’re very excited about this partnership as opportunities to support the local industry and combine it with OWS Automotive’s experience in the region are immense,” commented Oweis Zahran, CEO of OWS Automotive. “The automotive sector is an important element of Saudi Arabia’s economic diversification efforts, in line with Vision 2030’s objectives, and we are excited to participate in playing a part in its expansion alongside KAEC. As we continue to scale up operations, our agreement with KAEC marks an important step in widening our regional footprint and offering high-quality services within the Saudi market.”
King Abdullah Economic City’s Chief Executive Officer, Cyril Piaia, applauded the strategic agreement signing, stating, “With our sights set on creating a truly dynamic city home to world-class infrastructure and leading services across a variety of industries, our agreement with OWS Automotive is beneficial in all regards. The agreement allows us to leverage our facilities in premise, namely KAEC IV and King Abdullah Port, to further scale up our impact and contribute to strengthening capabilities within the local automotive sector and reflects on KAEC’s overhauled strategy to welcome third-party investors and partners within a dynamic environment. As the home to a variety of car manufacturing and assembly facilities, we aim to continue building value alongside our industrial partners and pedestal KAEC as the automotive capital of Saudi Arabia.”
OWS Automotive is also considering launching a training academy within the city, with aims to offer 200 jobs to Saudi nationals, expanding to more than one thousand jobs following the academy’s opening.
In the long term, KAEC seeks to integrate the best aspects of its international partners’ service offerings to operate as a global market gateway and form an environment conducive to successful businesses.
KAEC recently welcomed vehicle manufacturer Lucid’s first electric vehicle plant outside the United States. The plant is projected to produce up to 150,000 electric vehicles per year and create several thousand jobs in the city.
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About King Abdullah Economic City
King Abdullah Economic City (KAEC) is an emerging destination centrally situated on the Saudi Arabian coast of the Red Sea. Located a short distance north of the commercial capital Jeddah, KAEC is a 185-square kilometer city anchored by King Abdullah Port—recently named by the World Bank as the most efficient port in the world—and KAEC Industrial Valley, which is focused on developing the Kingdom’s logistics and light manufacturing capacities. Over 100 multinational and Saudi companies have already established a home in KAEC, engaging in a diverse range of ventures from advanced logistics to activities within the automotive, pharmaceuticals, FMCG, packaging, and building materials manufacturing industries. KAEC is directly connected to the Haramain high-speed railway network and the Saudi National Highways grid, making the city a key node along the Red Sea economic corridor.
In addition to its diverse economic functionalities, KAEC offers a modern leisure and tourism district which includes over 40 kilometers of pristine coastline, several hotels and the award-winning Royal Greens international tournament golf course. In 2021, the city welcomed over 1 million visitors and has since developed a range of lifestyle residential communities for its growing population of full-time residents and second homeowners.
With its strategic location, advanced infrastructure and investor-friendly regulations, KAEC is a ready-made platform for Saudi Arabia’s Vision 2030 initiatives. The city serves as a benchmark for innovative government initiatives, has hosted a variety of national events, and is a preferred site for large-scale, strategic projects across numerous key sectors. As a prime indication of the country’s commitment to private-public partnerships and the seamless facilitation of foreign direct investment, KAEC serves as an active contributor to the national objectives embodied in Vision 2030. By developing the tourism sector, promoting sports, entertainment, and the arts, creating new jobs, and growing non-oil exports through companies operating in its Industrial Valley, KAEC continues its mission to cultivate a prosperous city for all.
KAEC cordially welcomes third-party investors, real estate developers and operators to realize their projects and ambitions within the city in the collaborative advancement of ongoing expansion. Emaar, The Economic City (EEC) is the master developer of the city and acts as the master planner, primary infrastructure developer, enabler and facilitator of KAEC. EEC is a Tadawul-listed public joint stock Saudi company established in 2006 and is 25% owned by the Public Investment Fund (PIF).
About OWS Automotive
OWS is a global automotive service provider founded in the USA 30 years ago. Today the focus of OWS is primarily to provide governments and corporate fleets with sustainable services ranging from first response, parts remanufacturing and fleet maintenance repair and overhaul.
OWS is dedicated to deliver competitive automotive solutions at the highest level, with a innovative approach that combines sustainable re-manufacturing process with advanced and quality engineering.
