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Aramco Signed $7.2bn Worth of agreements and MoU’s

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Waqas Ahmed
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Waqas Ahmed
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Aramco

announced in a statement that it has signed over 100 agreements and MoU’s, valued at around $7.2 billion to help advance a diverse, sustainable and globally competitive industrial ecosystem at the 7th edition of the In-Kingdom Total Value Add (iktva) Forum and Exhibition.

The program achieved 63% local content in 2022, up from 35% in 2015, when iktva was originally launched.

The forum, which runs from January 30 to February 2, is held under the theme of ‘Accelerating Future Success’. It highlights collective localization efforts in key focus areas including Digital, Sustainability, Industrial, and Manufacturing. The first day of the event attracted more than 10,000 visitors and the exhibition space included more than 290 companies.

The iktva program encourages the establishment of regional headquarters in the Kingdom. Since inception, more than 150 investments have been made in Kingdom including products manufactured for the first time in Saudi Arabia. The company has also established 16 national training centers (NTCs) in 10 cities, covering more than 60 trades. To date, they have graduated more than 48,000 Saudi nationals.
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sustainability, innovation, industrial, digital, manufacturing, aramco, saudi arabia, iktva program, english, highlight

Get in touch

Avatar
Waqas Ahmed
Area Manager

Get in touch

Avatar
Waqas Ahmed
Area Manager

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