Saudi Aramco awards 16 local firms deals worth $7 bln

The 10-year purchase agreements by Saudi Aramco will focus on the supply of pressure vessels by local manufacturers. (Reuters)

Saudi Aramco said on Saturday it awarded 16 local companies deals worth more than 26 billion riyals ($6.93 billion) as part of a drive to expand the kingdom’s industrial base and manufacture a bigger share of products domestically.

The 10-year purchase agreements, signed on May 1, will focus on the supply of pressure vessels by local manufacturers, Aramco said.

The companies include Al-Zamil Process Equipment, Al-Zamil Heavy Industries, Olayan Descon Engineering, Saudi Arabian Fabricated Metals, Gulf Steel Works and Bemco Steel Industries.

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Last Update: Wednesday, 20 May 2020 KSA 09:56 - GMT 06:56
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