Saudi Aramco signs 100 agreements at SAR 27 bln

Logo of Saudi Aramco

Saudi Aramco signed over 100 agreements and memorandums of understanding (MoUs), valued at SAR 27 billion (around $7.2 billion) to help advance a diverse, sustainable and globally competitive industrial ecosystem at the seventh edition of the In-Kingdom Total Value Add (iktva) Forum and Exhibition.

In an emailed statement to Argaam, Aramco said the program achieved 63% local content in 2022, up from 35% in 2015, when iktva was originally launched.

Some of the major agreements are:

- Zoom: Strategic Partnership Agreement.

- Taulia Inc: Collaboration to implement supplier financing solutions.

- Accenture: System Integration and Digital Solution Services.

- Hassana Investment Co.: Establishment of a facility management national champion.

- Achilles: Development and localization of Environmental, Social, Governance (ESG) rating services.

- The Saudi Ministry of Investment: Development and promotion of investment opportunities and the Regional Headquarters Program.

- DHL: Intention to enter a definitive agreement to form a joint venture and offer procurement and supply chain services.