RIYADH (Reuters) - Saudi Aramco said on Saturday it awarded 16 local companies deals worth more than 26 billion riyals (£5.1 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.
(Reporting by Rania El Gamal and Sarah Dadouch; editing by John Stonestreet)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 375 USD | -1.13% | -5.56% | 104B | ||
| 29.95 SAR | -0.33% | +0.67% | 1,932B | ||
