Saudi Aramco to spend SAR1.5trn to boost local labour
Saudi Aramco is planning to spend SAR1.5trn on its “In Kingdom Total Value Add” (IKTVA) programme in the next 10 years in order to prepare 360,000 trainees for the labour market, the company said in a statement on Wednesday. Launched in Dec 2015, IKTVA was designed to leverage the relationship between Saudi Aramco and its suppliers to support the company’s goals to increase local content to 70% by the end of 2021, the statement added. Since the IKTVA programme launch, 98 local businesses have registered to do business with Saudi Aramco. At the same time, 90 local businesses have expanded their operations and were approved for new production lines.
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.