Saudi Aramco has announced the expansion of its flagship program to strengthen localization and boost domestic supply chains. This is an important milestone for the company’s Inland Gross Value Added (iktva) program and marks the fifth anniversary on 1 December.
The expansion includes plans for new international partnerships, as well as establishing the company through the Industrial Investment Program (IIP) linked to Aramco’s business development. Aramco has signed memorandums of understanding with six companies: Shell & AMG Recycling BV (AMG) in the Netherlands; Suzhou Xidimo, Shenggong, Xinfu and Zhejiang Supcon in China; and POSCO in South Korea.
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Saudi Aramco and Posco have entered into an agreement to jointly evaluate the feasibility of building an integrated steel plate manufacturing plant in Saudi Arabia.
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Saudi Aramco and Suzhou Xidimo3D Printing Technology Co., Ltd. reached an agreement to cooperate in industrial 3D printing technology and development in Saudi Arabia.
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Saudi Aramco and Shenggong New Materials (Guangzhou) Co., Ltd. reached an agreement focusing on the development of control system technologies for LED lighting, energy management and intelligent control.
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Saudi Aramco has entered into an agreement with Sinfu Sensor Technology Co Ltd to explore opportunities in chip manufacturing and related technologies.
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Saudi Aramco and Shell & AMG Recycling B.V. entered into an agreement to explore a partnership to develop plans for a state-of-the-art regional gasification ash recycling and spent catalyst recycling center and provide sustainable solution.
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Saudi Aramco and Zhejiang Supcon Technology Co., Ltd. have entered into an agreement to explore potential joint investment opportunities in Saudi Arabia in the services and manufacturing value chain.
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