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Alfanar signs MoU with Daewoo E&C during iktva 2023
In line with its efforts to support the national industry and promote local content, Alfanar participated in iktva 2023 - Saudi Aramco's ‘In Kingdom Total Value Add’ Forum and Exhibition as a platinum sponsor, which was held at Dhahran Expo Center from 30 January to 2 February 2023 under the patronage of His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province.
During iktva, Alfanar signed an international agreement, and participated in three-panel discussions and workshops in the presence of several official speakers from decision-makers and experts in the supply sector, showcasing its manufacturing, engineering construction, and project development expertise at the ‘Sustainability Pavilion’.
On the sidelines of the forum, Alfanar signed a memorandum of understanding (MoU) with the Korean company, Daewoo Engineering & Construction. The $1.5 billion agreement signed by Eng. Amer Al Ajmi, Executive VP of Alfanar Projects, and Sungmin Yang, Senior Vice President of Daewoo E&C, are aimed towards joint cooperation in future projects for the oil, gas, and petrochemicals sectors. As a leading Saudi company, Alfanar contributes heavily towards developing local content and achieving sustainability in the engineering construction field through the advanced technologies used in design, procurement, and project execution.
Alfanar also participated in three panel discussions and workshops. The panel discussion was presented by Eng. Amer Al Ajmi, Executive Vice President, on ‘Saudi Made: Catalyzing In-Kingdom Growth’. The first workshop was presented by Eng. Muhammad Taibah, Sales & Marketing Manager, on ‘The Future of Synchronous Motors Manufacturing in KSA’. The second workshop was presented by Hind Al Qahtani, Business Development Lead, on ‘KSA Women in Power Sector’.
On the occasion, Eng. Amer Al Ajmi stated, “Alfanar is one of the leading Saudi companies that is contributing to supporting local content through its national investments which are raising the rate of localization in Saudi Arabia. These investments play a key role in advancing economic development by increasing the number of national products in many fields, and by creating quality jobs. In addition to what Alfanar has already achieved in local manufacturing of industrial products, technology transfer, and acquisition of international technologies; we are also working towards introducing new industries that did not exist previously in Saudi Arabia, besides what Alfanar currently has, to support the Saudi Vision 2030.”