Partnership agreements signed under aramco namaat agreements

On Tuesday, Sept. 7, in addition to launching the expansion of aramco namaat, with 23 partnership agreements signed with local and global companies, building on established relationships with partners, including Hyundai, DHL, Samsung Engineering, and Shell.

The partnership agreements signed under the namaat program included: 

• SOLVAY — An MoU with the goal to pursue the development of advanced nonmetallic materials and localization of a composite value chain.

• DHL Supply Chain — An arrangement to evaluate the feasibility of establishing a local industrial logistics and procurement hub serving Saudi Arabia and MENA region.

• VEOLIA — Exclusive MoU to confirm the commercial feasibility of establishing a world-class integrated waste management company, alongside a strategic in-Kingdom stakeholder.

• Air Liquide and Haliburton and PIF, Baker Hughes and PIF, Linde and Schlumberger and PIF — Three separate nonbinding MoUs to evaluate carbon capture and sequestration opportunities and potential partnerships.

• AIC Steel, GSW, McDermott, Seyang, and Sendan, and NARMEL — Five separate MoUs on modular construction.

• Samsung Engineering, Hyundai, and Saipem — Three separate MoUs on engineering, procurement and construction.

• Elion and Green Groves — Two separate MoUs to evaluate the feasibility of localizing nature-based solutions. 

• Honeywell — An MoU with the goal to establish a joint venture that will develop and implement next-generation digital solutions that will improve efficiency, sustainability, and enable operational excellence of industrial facilities.

• Gulf Modular Industry (GMI) — MoU to validate the feasibility of developing and using nonmetallic applications in the modular building manufacturing process in the building and construction sector.

• Armorock — MoU to validate the feasibility of developing and using nonmetallic polymer concrete applications in the building and construction sector.

• Shell AMG Recycling & United Company for Industry — A trilateral MoU on metals reclamation and catalyst manufacturing.

• AVEVA — An MoU with the goal to establish a strategic alliance that will contribute to localizing development and deployment of various digital technologies, including artificial intelligence, machine learning, and digital twin.

• Baosteel — An MoU to conduct an engineering study and develop plans needed to build, own, and operate an integrated steel plate manufacturing facility in Saudi Arabia.

• A joint venture agreement between SeAH and Dussur to localize stainless steel seamless tube and pipe manufacturing has materialized.

These new partnerships continue to advance innovation and sustainability, while enhancing the scale and reliability of the in-Kingdom economic ecosystem, benefitting companies across the energy and chemicals landscape.

All of these ventures demonstrate Aramco’s focus on long-term goals. They will help to ensure supply chain robustness; enhance the security of supply for both the company and customers; accelerate product leadership; and complement core activities. By championing new markets and growth sectors, they will also contribute to the development of a diverse and future-proof Saudi economy.