Aramco expands its Namaat industrial programme with 55 MoUs and agreements – Arabian Business

Aramco expands its Namaat industrial programme with 55 MoUs and agreements – Arabian Business

The Saudi Arabian Oil Company (Aramco) today announced a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing, and social innovation sectors.

Namaat, which has grown from 32 to 55 investments since last year, supports industrial investment partnerships, helping to create jobs for Saudis and contributing to national growth and capacity building. The program aims to enable opportunities for local and international companies and leverage various incentives offered through the government’s Shareek program and other initiatives.

Ahmad Al-Sa’adi, senior vice president of Technical Services, Aramco, said: “Namaat enables Aramco to be a catalyst for change across the Kingdom’s economy, while maintaining our reliability as a global energy supplier at a time of market uncertainty. Our collaboration with industry leaders in areas of strategic importance for the Kingdom, demonstrates how Aramco is creating National Champions that will bring long-term benefits to our value chain, our economy and our people.”