Saudi Aramco will sign 30 deals with local and foreign companies worth about $25 billion during the in-Kingdom Total Value Add (iktva) event, a company executive has said, according to Reuters.
The slew of agreements come as the kingdom tries to develop its industrial base and increase its manufacturing sector.
The agreements will be signed on the sidelines of Aramco’s event, which will take place on November 26 and 27.
The iktva program was launched by Aramco a few years ago to increase the amount of goods produced inside the kingdom to 70% by 2021.
ABB CEO, Ulrich Spiesshofer, and Siemens CEO, Joe Kaeser are among the attendees of this year year’s event, Reuters reported.
Schlumberger CEO Paal Kibsgaard and Jeff Miller, CEO of oilfield services company Halliburton, are also due to attend.