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«Enough» plans to invest 1.5 trillion riyals and raise 360 ​​thousand to the labor market



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Details of these news «Sufah» plans to spend 1.5 trillion riyals and raise 360 ​​thousand to the labor market

«Enough» plans to invest 1.5 trillion riyals and raise 360 ​​thousand to the labor market

Published by Abdallah al-Maneh in the city on 16 – 11 – 2018

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The overall value enhancement program (SAFE), one of Armco's most significant initiatives, intends to invest 1.5 trillion rials over 10 years to implement its strategies to accelerate the development of the energy services sector and contribute to the establishment of an economic system that will attract and encourage local energy-related industries. A total of 98 local facilities were registered for the provision of services to Aramco, while at the same time 90 other enterprises expanded their activity by obtaining credit for the operation of new production lines. The program was designed and launched on December 1, 2015 with the aim of benefiting from the relationship between Saudi Aramco, service providers and manufacturers in order to improve the company's goals to raise the level of local content by the end of 2021 to approximately 70%
. It is also working to develop a diversified and viable economic system that will compete with the Kingdom's energy economy and push 360,000 graduates of 30 centers and training institutions to the labor market by 2030.
The program works for the development and diversification of economy sources and attract investments by increasing the percentage of domestic content in the goods and services of the oil and gas sector. Armco's top priority is to build a world-class supply chain that is competitive and adds value to the kingdom.
The company has made significant progress in its implementation by focusing on developing reliable domestic supply, export and job creation. The program aims to develop energy services and increase the volume of goods and services supplied from the Kingdom by a competitive energy sector.
ARMCO aims to increase the program's ability to achieve its objectives in the service of the national economy and represents a road map for the development of businesses related to the supply of goods and services,
From its production to world markets.
Through the program, Aramco strives to strengthen its efforts and efforts to ensure that it continues to build a diverse, efficient and efficient supply chain to further achieve its business objectives to promote sustainable economic growth.

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Source: Saws

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