Alfanar signs co-operation agreement with Saudi Aramco

Alfanar, a leading Saudi manufacturer of electrical and construction products, has signed a co-operation agreement with state oil giant Aramco which is aimed at augmenting localisation, innovation, digitisation ‎and sustainability in the kingdom.

These initiatives are in line with the In-Kingdom Total Value Add (IKTVA) flagship programme that Aramco launched to support economic development through local content increment, said the statement from Alfanar. ‎

‎The MoU was signed by Ahmad Al Saadi, Senior VP of Technical Services, Aramco and Abdul Salam Al Mutlaq, Chairman, Alfanar at the Alfanar Industrial City, the largest privately developed manufacturing facility in the Middle East which is spread across 720,000 sq m.

Commenting on the MoU, Al Saadi said: "Through a collaborative and inclusive model, we are committed to work with private companies to ensure that the local content objectives of Saudi Arabia are achieved."

Currently, the initiatives that were signed under the MoU cover the following sectors: manufacturing, EPC, modularization, commercialization of intellectual properties (IP), energy efficiency and environmental protection, it added.

Al Mutlaq pointed out that innovation, digitalization and localization have always been Alfanar’s pillars of commitment towards the development of a sustainable business.

"This is a historic moment for us at Alfanar to partner with Aramco and to work together in further developing the local content," he stated.

Following the signing ceremony, Aramco's senior management toured Alfanar’s various factories and also visited the ladies’ section which employs more than 700 Saudi women in the electrical circuit breakers production unit.

The number of female workers in this section has surged in recent years as proof of Alfanar’s commitment to Vision 2030’s goal of empowering professional women, said the company in its statement.

Aramco team lauded Alfanar Industrial City as a successful example of the private sector’s important role in localising industry and enhancing national capacity with professionalism and high efficiency, it added.

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