Visitors look at a booklet during the In-Kingdom Total Value Add (IKTVA) Forum and Exhibition in Dhahran, Saudi Arabia, Jan. 24, 2022. (Photo by Mohamed Nasr/Xinhua)
RIYADH, Jan. 25 (Xinhua) -- The Saudi Arabian Oil Company (Aramco) announced on Monday the signing of 50 new deals with local and international companies in a bid to improve the resilience of its supply chain.
The deals, signed at the 6th edition of the In-Kingdom Total Value Add (IKTVA) Forum and Exhibition organized by Aramco, cover partnership on climate leadership and digitalization with U.S.-based oilfield services company Schlumberger, and carbon fiber investment collaboration with Alfanar company engaged in manufacturing electrical construction products.
A visitor listens to an introduction at a booth during the In-Kingdom Total Value Add (IKTVA) Forum and Exhibition in Dhahran, Saudi Arabia, Jan. 24, 2022. (Photo by Mohamed Nasr/Xinhua)
Progress in the Aramco's sustainable business development is also showcased at the forum, which runs from Jan. 24 to 26 in the eastern coastal city of Dhahran.
A staff member introduces a smart lighting system to a visitor during the In-Kingdom Total Value Add (IKTVA) Forum and Exhibition in Dhahran, Saudi Arabia, Jan. 24, 2022. (Xinhua/Wang Haizhou)
Aramco's strategic IKTVA program aims to drive domestic value creation, maximize long-term economic growth and diversification, and build a world-class supply chain that facilitates the development of a diverse, sustainable and globally competitive energy sector in Saudi Arabia, at a time when global supply chains have been disrupted by the COVID-19 pandemic.
Visitors look at a smart lighting system during the In-Kingdom Total Value Add (IKTVA) Forum and Exhibition in Dhahran, Saudi Arabia, Jan. 24, 2022. (Xinhua/Wang Haizhou)
The program, which has attracted more than 540 investments to Saudi Arabia from 35 countries, has helped establish a competitive industrial base, resulting in exports to more than 40 countries, according to Aramco.■
