Amiantit says local content at 48.1%; local content exports and revenue at 58.1%

Saudi Arabian Amiantit Co. said that the company’s local content reached 48.1% while local content exports and revenue reached 58.1%, according to the company’s audited local content report for the fiscal year ended Dec. 31, 2019.

The aim of obtaining this advanced position in the “local content program” is to enhance the company’s competitiveness and give it priority in competing with international companies at the local level, which will positively affect the volume of sales at reasonable prices, Amiantit said in a bourse statement.

The “local content program” is sponsored by the government and is based on spending within the Kingdom through the participation of Saudi personnel in the workforce, along with domestic elements in goods, services, assets, technology, etc., in line with the Saudi Vision 2030, the statement added.