Siemens Energy signed a land lease agreement with Saudi Industrial Property Authority (MODON) that will see the German company build a US$3mn manufacturing and service facility in Dammam Industry City.
Under the agreement, Siemens Energy will lease a 220,000-square-meter plot of land for building a centre for the local manufacturing of gas turbines, compressors and heat recovery steam generators as well as repair shops and service facilities for the Saudi market.
Construction on the project is due to start in May 2012 and will be completed in late 2013.
Training and job opportunities
The center will create job opportunities for young Saudis and serve as a technological hub for knowledge transfer of the latest Siemens Energy technology.
Siemens, in association with Saudi Petroleum Services Polytechnic (SPSP) already offers a two-year technical apprenticeship program provided by SPSP, followed by one year of on-the-job training at Siemens. The first intake of 40 Saudi students started in December 2011.
Adding value to national economy
The signing ceremony, held in Jeddah, was attended by Dr. Tawfiq al-Rabea, Saudi Arabia's Minister of Commerce and Industry, Dr. Roland Fischer, CEO of Fossil Power Generation at Siemens Energy, Amin Al-Afifi, CEO of E.A. Juffali and Brothers, and Arja Talakar, CEO of Siemens Saudi Arabia, and Eng. Saleh Al-Rasheed, Director General of Modon with the participation of high-ranking officials and senior management of all involved parties.
Dr. Al-Rabea, Minister of Commerce and Industry, said: "This is one of many mega-projects that the industrial cities have successfully attracted and that are due to deliver added value to the national economy, provide local sources for producing energy, in addition to aiding our efforts in localizing the workforce in this project."
