King Abdullah Economic City (KAEC) has signed a long-term Master Supplier Agreement with AVK Saudi Valves Manufacturing Company.
As a leader in its industry, AVK will supply the city with its state of the art products as the city continues to develop and expand its infrastructure. To keep up with the rapid developments in the city, AVK has been brought on to further expansion in capacity.
"This partnership is a key indicator of the caliber of companies working alongside KAEC in the delivery of a next generation city to support Vision 2030," said Fahd Al-Rasheed, Group CEO and Managing Director of KAEC. "KAEC continues to partner with new best-in-class companies to maintain our ability to provide a premium infrastructure that empowers growth."
"AVK places the support of Saudi Arabia’s economy at the centre of its business practices. Offering world-class skills and expertise to Saudi employees, we are currently on track to soon reach Saudization levels of over 40%. Partnering with KAEC, a city designed to support the growth of Saudi into the future, is a natural direction for us, and we are very excited about the level of sustainable, high quality projects being developed there," said Ole Hedegaard, Managing Director of AVK Middle East. "The new partnership with AVK supports a commitment by both parties to prioritizing the use of high quality domestically manufactured products in the growth of local communities."
"KAEC’s continued development is evidence of the power of Vision 2030 to drive an economy beyond oil," said Fahd Al Rasheed. "The advanced infrastructure of the city has been developed in partnership with renowned industry leaders, focusing on a premium level product to increase safety and security for all investors."
