Riyadh – Mubasher: The Saudi Arabian Oil Co, known globally as Saudi Aramco, has unveiled plans to start non-metallic investments during the coming period.
Investments in the non-metallic sector also aligned with investments in oil and gas, automotive, construction, packaging, and renewable sectors, the world's largest oil producer said on Tuesday.
“In line with Saudi Vision 2030 to advance the kingdom’s economy ranking to be among the top 15, one of Saudi Aramco’s focus areas in its long-term strategy is the use of nonmetallic materials,” Aramco’s vice president of engineering services Abdullah Al-Baiz stated.
Investing in non-metallic represents a large opportunity to raise international demand on Aramco’s crude oil, Al-Baiz added during the 17th Middle East Corrosion Conference and Exhibition in Bahrain.
“We will achieve our target by being active in the following four fronts: maximizing deployment, promoting research and development, supporting localisation through our flagship In-Kingdom Total Value Add (IKTVA) initiative, and finally by investing in relevant companies in all stages of maturity,” Aramco’s official concluded.
