The Clap
KSA’s historic victory over Argentina, with two goals to one, in the Qatar World Cup coincided with Saudi Aramco (2222) signing 59 strategic purchase agreements with 51 local and international manufacturing companies worth SAR 41.25 billion as part of the “Iktva” program.
What
Strategic purchase agreements aim to set a framework for mutual cooperation and success, which is in line with Aramco’s vision of establishing a world-class supply chain in KSA.
So What
Aramco launched its Iktva program in 2015, which has since achieved a number of milestones in key areas, including the development of the Saudi workforce, research and development, exports, and supplier development.
Now What
Among the companies signed to these agreements are “Baker Hughes”, “Halliburton” and “Schlumberger“, which are expected to provide 5,000 new job opportunities in Saudi Arabia over the next decade.
