Riyadh
Switzerland’s ABB Marine and Ports is setting up a local division in Saudi Arabia in a bid to expand its client base across the Kingdom’s shipping, ports and offshore sectors.
The company also aims to help develop the local shipbuilding industry, part of the Kingdom’s ambitions to diversify its economy away from a focus on the hydrocarbons sector under Saudi Vision 2030 and the In-Kingdom Total Value Add (IKTVA) program.
“Through the IKTVA program and Saudi Vision 2030, the country seeks new opportunities — and one of the areas for focus is shipbuilding,” Justin John, ad interim local division manager for Saudi Arabia, said in a statement.
“We are delighted to accompany Saudi Arabia on its journey toward a more diverse and environmentally conscious marine sector.”
Parent company ABB is a global technology company headquartered in Zurich, with around 105,000 employees in over 100 countries .—AN
