Advancing Energy Localization: A Vision for Sustainable Growth in Saudi Arabia
Key Ideas
- Prince Abdulaziz bin Salman bin Abdulaziz tours factories in Riyadh Industrial City to review energy equipment production progress aligned with Vision 2030 goals.
- Al-Jihaz Holding Company showcases production lines focusing on electrical network systems engineering, design, and automation in line with localization objectives.
- Alfanar's advancements in renewable energy, including SF6-free smart ring-connectors and green hydrogen initiatives, demonstrate a commitment to sustainable practices and innovative technologies.
- Saudi Arabia aims to achieve a 75% localization rate in the energy sector by 2030, emphasizing economic growth, job creation, and sustainability through green technology.
His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy in Saudi Arabia, undertook a comprehensive tour of factories in Riyadh Industrial City to bolster localization in the energy sector. Accompanied by other dignitaries, the visit aimed to assess the progress of energy equipment production essential for connection, control, automation, and distribution in electrical systems. The focus on localization is part of Saudi Arabia's Vision 2030, with a target to localize 75% of energy sector components.
During the visit to Al-Jihaz Holding Company, Prince Abdulaziz observed the production lines dedicated to engineering, design, and automation of electrical network systems. The facility, employing 500 workers including Saudi women, aims to double its production capacity to align with Vision 2030 objectives. Additionally, at Alfanar, the region's first SF6-free smart ring-connectors factory was inaugurated, emphasizing green technology and sustainability efforts. Alfanar's commitment to renewable energy, including wind and solar projects, carbon capture technologies, and green hydrogen initiatives, positions them as leaders in the field.
The tours and briefings during the visit highlighted Saudi Arabia's dedication to increasing local content in the energy sector, enhancing the national economy, and promoting sustainable practices. With a clear goal to achieve a 75% localization rate by 2030, the country is poised for significant growth and innovation in its energy industry.
Topics
Middle East
Innovation
Green Technology
Manufacturing
Economic Development
Energy Sector
Sustainable Practices
Vision 2030
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