Saudi Aramco spent $9.2 bln on locally-made products in 2016

11/07/2017 Argaam

Saudi Arabian Oil Co. (Saudi Aramco) has spent SAR 9.2 billion on locally-manufactured product purchases, up by $800 million year-on-year (YoY) in 2016, according to the company’s annual report for 2016.

 

The world’s largest crude exporter is seeking to increase the percentage of locally-manufactured energy-related goods and services to 70 percent by 2021 through the In-Kingdom Total Value Add (IKTVA) program. The local content development has reached an advanced stage in 2016.

 

IKTVA would also help the Saudi company raise the export of Saudi-made energy goods and services to 25-30 percent.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read