Posted On : Mar 01 ,2023
It is the vision of the Kingdom of Saudi Arabia (KSA) to drive additional domestic value creation to support a rapidly changing economic environment and foster future prosperity in the Kingdom. Hence, the In Kingdom Value Add (IKTVA) program was founded and is aligned with the goals of the Vision 2030 strategy.
For decades, the Middle East in general and the KSA in particular has been a very important market for Statron. Especially in areas of Oil and Gas (offshore and onshore oil platforms) in Energy (power stations, substations), Industry, and Infrastructure, Statron is a major supplier of Uninterruptable Power Supply (UPS) Systems.
As a consequence, Statron was looking for a local partner in Saudi Arabia to further drive the IKTVA content. The Industrial Systems Group (ISG) one of the holding companies of AL ABDULKARIM HOLDING (AKH) is a major player in Saudi Arabia. AKH is an engineering & IT conglomerate providing specialized services to Oil & Gas, Petrochemical, Electrical, Power, and IT companies. It was established now for over 35 years and has wide coverage in the Middle East, Asia & Europe with the help of its partner companies.
At the Aramco IKTVA-Forum, Mr. Khalid A Al Abdulkarim (President & CEO of AKH) and Dr. Ruben Vogelsang (CEO of Statron) officially signed a Memorandum of Understanding (MoU) for future cooperation in the UPS business in Saudi Arabia. Both stated that it is a great pleasure to sign such a document together and it is a great starting point for the further prosperity of both companies. Many more steps will follow.