Saudi Arabia is planning to locally produce 70 per cent of the energy products it requires over the next ten years, the country's energy minister announced yesterday.
Abdulaziz Bin Salman told reporters in the Saudi city of Dammam that the move was part of the kingdom's efforts to "increase Saudis employment across various economic sectors."
"In line with the kingdom's strategy, an integrated and comprehensive programme will be launched to empower the Saudi energy sector through localising 70 percent of the sector," Salman said during the inauguration ceremony of a project by Germany's Siemens in Dammam.
The Siemens facility was reported to be the largest of its kind in the region and is set to serve as an integrated services hub for the energy sector.
The German company said that the facility is expected to provide a variety of energy services, "including repair operations that rely on advanced technological applications and solutions, in addition to locally repairing and renewing equipment."
"The technology delivered by this facility will support the country in its push for sustainability and decarbonization amid an expanding energy industry," the Managing Director of Siemens in Saudi Arabia, Mahmoud Sulaimani, told reporters.