Construction industry plays a critical role in Kingdom’s ‘national transformation’

Share

Saudi Aramco participated Wednesday in the Construction Industry Institute’s first annual conference which was organized by the King Fahd University of Petroleum and Minerals (KFUPM) at its Dhahran campus.

Addressing conference delegates, Saudi Aramco President and CEO Amin H. Nasser said the construction industry plays a critical role in the Kingdom’s national transformation. He said: “The Kingdom’s development programs over the last 40 years would not have been achieved had it not been for the important role of the construction industry. As we look forward to the realization of Vision 2030, with its ambitious aspirations and massive investments, it has become more imperative than ever for the construction industry to swiftly advance in order to fulfill the hopes we pin on it.”

Saudi Aramco took part in the two-day conference held under the title “Towards Better Productivity and Effective Quality Control” where it shared the Company’s vision, innovative ideas and experience in construction and highlighted the favorable impact of this industry on the Kingdom’s development.

Highlighting Saudi Aramco’s experience in construction and project management, Nasser said the company developed processes and systems to monitor projects more effectively and intervene only when needed to proactively address emerging issues. He pointed out three priorities that need to be addressed by the construction industry, namely, efficiency and productivity, project cost and schedule overruns, and quality. Nasser also emphasized issues related to in-Kingdom construction industry, the challenge of localization and maximization of the local content of this industry, not only in terms of ‘Saudization’, but also materials manufacturing.

Saudi Aramco participates, along with several international oil and gas companies, in “Project Complexity,” a program launched under the umbrella of the World Economic Forum which focuses on the standardization of engineering specifications of oil and gas companies with the aim of improving efficiency and cost reduction in projects.

The Construction Industry Institute provides stakeholders of the construction industry, including project owners, contractors, consultants, suppliers, and academics, with a platform to share views on best practices to increase productivity and enhance on-site quality control of construction projects.
Saudi Aramco is a world leader in integrated energy and chemicals.

02/03/2017
Saudi Gazette
Building and Construction
01
Innovation to enhance Saudi housing sector develop...More Details
02
Saudi Binladin creditors agree to $1.1 bln financi...More Details
03
Hospitality and construction trade shows open in J...More Details
Economic
Events
10
09/2019
Electra Mining Botswana Gaborone ...More Details
28
08/2019
ExpoFerretera Buenos Aires ...More Details
27
05/2019
Exponor Chile Antofagasta ...More Details
More Economic Events
Accounting
Tools

Business Starting Costs Calculator

How much does it cost to start a business? ....

Profit and Loss Calculator

This calculator will help you calculate the profit and loss of your business.

Personal Budget Calculator

Use this calculator to create your personalized

More Accounting Tools
30
03/2020
Economic
News
img

Saudi Arabia kick starts sale of state flour mills ....Read More

img

Saudi merchandise exports rise 17.5% in Q1- GASTAT ....Read More

img

Saudi universities to open doors to small businesses in R&D ....Read More

More Economic News