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  • Aramco and Larsen & Toubro to collaborate on manufacturing sector development
    édité le 08/12/2021 - Plus de news de "ARAMCO" - Voir la fiche entreprise de "ARAMCO"

Aramco and Larsen & Toubro to collaborate on manufacturing sector development
The Saudi Arabian Oil Company (Aramco) in collaboration with Indian conglomerate Larsen & Toubro (L&T) is developing manufacturing capabilities in the Kingdom of Saudi Arabia.

The companies have signed a Memorandum of Understanding outlining collaboration on L&T’s efforts to establish the region’s first Heavy Wall Pressure Vessels facility at Saudi Arabia’s strategically located Jubail Industrial City.

The MoU is in line with the Aramco Namaat program, launched in September, which aims to tap into the vast opportunities available in Saudi Arabia to create value, as well as drive economic expansion and diversification.

Ahmed Sa’adi, Aramco’s Senior Vice President of Technical Services, said: “This manufacturing facility, once completed, will provide a large number of skilled job opportunities for Saudi youth, localize the “know how” of heavy wall vessels in the Kingdom, and deploy the latest manufacturing technologies to serve the Kingdom and MENA region. We expect this facility to help Aramco and others in the Kingdom to increase localization and optimize capital cost.”

Mr. S. N. Subrahmanyan, L&T’s CEO, said: “We believe this is another significant milestone for L&T in the Kingdom and a strong testimony to our commitment to the development of the region. We wish to express our gratitude to Saudi Aramco for their guidance and support in the Kingdom.”

L&T is due to start construction of the new facility imminently, with production expected to commence by Q3 2022. Spread over an area of 120,000 square meters, the facility aims to produce critical equipment for several industries, including the power and oil and gas sectors.

About Aramco

Aramco is a global integrated energy and chemicals company driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, sustainable and useful, promoting stability and long-term growth around the world.

About Larsen & Toubro

Larsen & Toubro is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Origine : Communiqué ARAMCO

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