ARKAD and Bilfinger sign a Strategic Cooperation Agreement to accelerate growth and drive localization in the Kingdom of Saudi Arabia
ARKAD, the leading Saudi engineering and integrated projects company and Bilfinger, the engineering and industrial solutions powerhouse have signed a Memorandum of Understanding to establish a Strategic Cooperation that would position both Companies to accelerate growth in the Kingdom of Saudi Arabia and the region.
The Agreement, in harmony with the Vision 2030, paves the way to harness the opportunities in the Oil & Gas, Chemical, Petrochemical, Nuclear and Renewable Energy Sectors with advanced solutions and services, while aiming at developing the local value chain and creating employment opportunities for Saudi workforce. The Cooperation addresses strategic elements such as Engineering Technology, innovative Asset Life Cycle Solutions, in-kingdom Fabrication & Modularization and Environmental solutions.
“The Partnership is a strong strategic fit, leveraging the two leading companies’ portfolio of solutions and services, while uniting us around the joint commitment to support the Kingdom’s vision 2030. We will together focus on delivering value to our customers by localizing advanced solutions, productivity and efficiency that will create unparalleled value-add for the Kingdom’s massive industrial sector”, Ali Vezvaei, President & CEO of Bilfinger Middle East commented.
Hani Abdulhadi, Member of Management Board of ARKAD, commented: “Today we are pleased to establish such a partnership with a leading company like Bilfinger. WE strongly believe that our local knowledge, capabilities and skilled resources coupled with the strong technical know-how and pioneering solutions of Bilfinger enable us to provide the market with cutting edge services and solutions and boost local content and employment opportunities, in line with vision 2030.”