Roxtec Saudi Arabia has secured the highest score in the ‘In Kingdom Total Value Add’ (IKTVA) by the world’s largest oil-exporting company, Saudi Aramco.
Roxtec is a Swedish-owned manufacturer of pipe and cable transit seals. It has been operating in Saudi Arabia for more than 20 years. Earlier this year, it established its first specialized Saudi Arabia registered firm in the port city of Al Khobar.
Mr. Firas Kafafi, Director of Middle East Operations at Roxtec Saudi Arabia, stated that the company received the IKTVA score after a third-party assessment and a formal review by Saudi Aramco, a long-standing client.
The IKTVA initiative of Saudi Aramco aims to expand the local manufacturing sector, boost global competitiveness by supporting a diverse economic environment, and drive the Kingdom’s future growth.
“We are delighted to secure the IKTVA score with Saudi Aramco. We feel this is a testament to our commitment to fully support both ARAMCO and the KSA Government’s 2030 vision. This year we have started to manufacture products at our Saudi site and three-quarters of our team are Saudi nationals. We understand the Kingdom is evolving and we want to play our part in the economic development and diversification agenda by investing here long term and training our local workforce. This outlook fits well with Roxtec’s ethos to be ‘globally local’ – showcasing our passion and knowledge for the countries where we work.”
Mr. Zaid Albaiyat, MENA Marketing & Business Development Manager at Roxtec Saudi Arabia noted that “it is a real boost to all the Saudi team to earn a 60 percent score in Saudi Aramco IKTVA as we look to grow our team to 20 people.”
“The prime sectors we are targeting for growth are power, oil & gas, renewables, telecoms, water, maritime and heavy industry. We further want to expand our supply chain to support our manufacturing facility,” Mr. Albaiyat added.