ID :
53092
Tue, 03/31/2009 - 15:10
Auther :
Shortlink :
https://www.oananews.org//node/53092
The shortlink copeid
Al-Falih announces Projects to develop Industrial Sector, Human
Dammam, March 23, SPA -- A Memorandum of Understanding (MOU) will
soon be signed with Sumitomo Chemical for the Petro Rabigh expansion,
according to Saudi Aramco’s President and CEO Khalid A. Al-Falih.
He also announced the establishment of an industrial training center
that will be located in al-Hasa, and another to support the oil
services based in Dammam.
Al-Falih made the announcement in an address at the “2009 Local
Content Forum: Opportunities and Challenges,” held recently at the
Chamber of Commerce and Industry in Dammam.
The message Al-Falih delivered to the group was that the current
global financial crisis proved that serious and bold investments in
establishing qualified institutions and companies, particularly
manufacturing companies, is a smart option that provides lucrative,
low-risk returns in the long run.
Al-Falih reassured the local industrial sector that, despite the
current tough global economic conditions and the challenges faced by
the energy sector, the Kingdom still holds on to its long-term
investments in expanding its oil and gas sectors and its programs to
enhance local and global energy supplies.
Saudi Aramco’s numerous needs, he said, are similar to those of
other major sectors such as the petrochemicals, water and electricity
sectors.
Al-Falih also called for using the slackening periods witnessed by
the global economy to formulate future investment strategies and
prepare for the coming economic expansion periods.
He also called on the private sector to focus on accelerating the
development of oil and gas services as well as local industries to
turn the Kingdom from a net importer to a leading exporter of oil and
gas-related goods, services and technologies.
Al-Falih argued for utilizing the opportunities afforded by the huge
domestic investments being made by the Kingdom, the great improvement
in its investment environment, its remarkable advance on the World
Bank’s Ease of Doing Business Index, and its solid national economy
that continues to attract investments during the current period of
global economic contraction and enables the government to continue
its developmental and infrastructure expansion projects.
On this occasion, Al-Falih announced that Saudi Aramco plans to sign
a Memorandum of Understanding (MOU) in the near future with Sumitomo
Chemical for the second phase of the Petro Rabigh Complex (Petro
Rabigh II).
He also spoke of the huge investment the company will make through
its upcoming petrochemical project in Ras Tanura — a partnership with
Dow Chemical of the USA. This investment will amount to
approximately SR 100 billion when completed, and will include the
construction of integrated industrial cities where the private sector
can invest in conversion and support industries.
Al-Falih also announced two new major initiatives by Saudi Aramco in
the field of vocational training, in partnership with the General
Organization for Technical Educational and Vocational Training
(GOTEVT). The first involves the establishment of the National
Industrial Training Institute in al-Hasa, a new training institute
similar to those operated by the company. The company will offer
advice on the center’s design as well as provide land with an area
totaling 365,000 square meters for the construction of the center
which will features classrooms and laboratories that can accommodate
2,000 trainees.
The second initiative Al-Falih announced was for the Saudi Technical
Petroleum Services Institute in Dammam, in partnership with the
Ministry of Petroleum and Mineral Resources, for which the company
will provide technical support.
The two institutes, Al-Falih said, aim to build national expertise
in the areas of exploration and production as well as various other
industries and to develop teaching staff and curricula in the areas
of oil exploration and production and quality control. The company
plans to utilize those two important facilities, not only in training
its own employees, but also in creating highly-qualified Saudi
employees to serve the oil, gas and petrochemical sectors in general.
This, Al-Falih said, is an example of what the private sector can
accomplish through joint investment in the construction of institutes
that help develop the private sector’s business. Al-Falih uncovered
more initiatives in the area of developing the Kingdom’s human
resources.
He expressed his gratitude for the Chamber of Commerce and Industry
in the Eastern Province for inviting him to this Forum which was held
under the auspices of Prince Mohammad bin Fahd bin Abdulaziz,
Governor of the Eastern Province.
--SPA
soon be signed with Sumitomo Chemical for the Petro Rabigh expansion,
according to Saudi Aramco’s President and CEO Khalid A. Al-Falih.
He also announced the establishment of an industrial training center
that will be located in al-Hasa, and another to support the oil
services based in Dammam.
Al-Falih made the announcement in an address at the “2009 Local
Content Forum: Opportunities and Challenges,” held recently at the
Chamber of Commerce and Industry in Dammam.
The message Al-Falih delivered to the group was that the current
global financial crisis proved that serious and bold investments in
establishing qualified institutions and companies, particularly
manufacturing companies, is a smart option that provides lucrative,
low-risk returns in the long run.
Al-Falih reassured the local industrial sector that, despite the
current tough global economic conditions and the challenges faced by
the energy sector, the Kingdom still holds on to its long-term
investments in expanding its oil and gas sectors and its programs to
enhance local and global energy supplies.
Saudi Aramco’s numerous needs, he said, are similar to those of
other major sectors such as the petrochemicals, water and electricity
sectors.
Al-Falih also called for using the slackening periods witnessed by
the global economy to formulate future investment strategies and
prepare for the coming economic expansion periods.
He also called on the private sector to focus on accelerating the
development of oil and gas services as well as local industries to
turn the Kingdom from a net importer to a leading exporter of oil and
gas-related goods, services and technologies.
Al-Falih argued for utilizing the opportunities afforded by the huge
domestic investments being made by the Kingdom, the great improvement
in its investment environment, its remarkable advance on the World
Bank’s Ease of Doing Business Index, and its solid national economy
that continues to attract investments during the current period of
global economic contraction and enables the government to continue
its developmental and infrastructure expansion projects.
On this occasion, Al-Falih announced that Saudi Aramco plans to sign
a Memorandum of Understanding (MOU) in the near future with Sumitomo
Chemical for the second phase of the Petro Rabigh Complex (Petro
Rabigh II).
He also spoke of the huge investment the company will make through
its upcoming petrochemical project in Ras Tanura — a partnership with
Dow Chemical of the USA. This investment will amount to
approximately SR 100 billion when completed, and will include the
construction of integrated industrial cities where the private sector
can invest in conversion and support industries.
Al-Falih also announced two new major initiatives by Saudi Aramco in
the field of vocational training, in partnership with the General
Organization for Technical Educational and Vocational Training
(GOTEVT). The first involves the establishment of the National
Industrial Training Institute in al-Hasa, a new training institute
similar to those operated by the company. The company will offer
advice on the center’s design as well as provide land with an area
totaling 365,000 square meters for the construction of the center
which will features classrooms and laboratories that can accommodate
2,000 trainees.
The second initiative Al-Falih announced was for the Saudi Technical
Petroleum Services Institute in Dammam, in partnership with the
Ministry of Petroleum and Mineral Resources, for which the company
will provide technical support.
The two institutes, Al-Falih said, aim to build national expertise
in the areas of exploration and production as well as various other
industries and to develop teaching staff and curricula in the areas
of oil exploration and production and quality control. The company
plans to utilize those two important facilities, not only in training
its own employees, but also in creating highly-qualified Saudi
employees to serve the oil, gas and petrochemical sectors in general.
This, Al-Falih said, is an example of what the private sector can
accomplish through joint investment in the construction of institutes
that help develop the private sector’s business. Al-Falih uncovered
more initiatives in the area of developing the Kingdom’s human
resources.
He expressed his gratitude for the Chamber of Commerce and Industry
in the Eastern Province for inviting him to this Forum which was held
under the auspices of Prince Mohammad bin Fahd bin Abdulaziz,
Governor of the Eastern Province.
--SPA
