SUPCON has announced the signing of a Memorandum of Understanding (MOU) with Saudi Aramco to explore potential opportunities for cooperation and joint investment in Saudi Arabia for the services and manufacturing value chain, such as digital transformation of intelligent manufacturing.
The MoU paves the way for future in-depth cooperation between SUPCON and Saudi Aramco. Combining Aramco’s business foundation in Saudi Arabia with the professional technology of SUPCON in the automation field, it is believed that both sides can achieve win-win cooperation in this opportunity. It is anticipated that potential cooperation opportunities stemming from the MOU will continue to promote Aramco’s in-Kingdom Total Value Add (IKTVA) program, and enhance innovation and sustainable development. Future opportunities would also be expected to help SUPCON open up its overseas market, and develop high-end products, services and solutions.
Cui Shan, the executive director of SUPCON, said: “It's been more than 20 years since the establishment of SUPCON. During these years, SUPCON has achieved excellent performance in domestic market, and has also accumulated a large number of experience in automation, digital and intelligent technology. In the future, we will continue to strive to expand the domestic market share, constantly seek breakthroughs. At the same time, we will focus more on building high-end products, developing high-end customers, exploring high-end markets, and actively carry out the company's international strategic transformation, so as to build SUPCON into an outstanding multinational enterprise to serve global customers. We have made a series of attempts in internationalization already, and the signing of the MoU with Aramco will undoubtedly be an important milestone in the internationalization strategy of SUPCON and the road to build a high-end image. In the future, we will also actively explore overseas markets and hope to establish friendly and cooperative relations with more multinational enterprises as excellent as Aramco to achieve win-win results."
Nabil Al Nuaim, Aramco’s Vice President of Corporate Affaris, said: “We are delighted to sign this MoU with SUPCON. Through such partnerships we are increasing our focus on new technologies as part of our long-term goals, which not only support the development of our business but also the growth and development of a more diversified national economy in Saudi Arabia. The MoU also aligns closely with Aramco’s ongoing digital transformation program, which is harnessing technology breakthroughs to deliver energy more sustainably, efficiently and safely.”