Transforming Together: With Local Partners, GE Drives Manufacturing and Tech
With the launch of Saudi Vision 2030, Saudi Arabia has embarked on perhaps its most transformative economic journey since its founding. To support this vision, GE is drawing on its extensive capabilities across multiple industries to partner in new initiatives with leading Saudi companies and organizations.
Working hand-in-hand with its Saudi partners, GE is working to realize initiatives designed to create more than 4,000 new and high-value jobs for Saudis, and to provide training to 1,000 Saudi women in industrial fields. These projects and programs will help establish Saudi Arabia as a global manufacturing and digital industrial hub, support the introduction of new industries into the Kingdom, foster a robust SME supply chain, drive exports, and boost productivity and efficiency across the energy, aviation, healthcare and digital sectors.
The partners include the Saudi Arabian Industrial Investments Company (SAIIC), Saudi Aramco, Saudi Industrial Property Authority (MODON), Middle East Propulsion Company (MEPC), Prince Mohammed bin Salman bin Abdulaziz Al-Saud Foundation, Asharqia Chamber, National Industrial Clusters Development Program (NICDP), Dr. Sulaiman Al Habib Medical Group and SaudiVax, as well as Cividale SpA of Italy.
“We are a committed partner in supporting the Kingdom’s transformational and diversified growth, underscored by our 80 years of presence in Saudi Arabia,” said GE’s Chairman & CEO Jeffrey Immelt. “Our roots are deep, and today with our partners, we are growing in a new and visionary way. Together, we will support the vision and aspirations of Saudi Arabia. New sustainable and equitable opportunities, as well as strong business outcomes will flourish under these initiatives.”
The sectoral breadth of these agreements and their strong potential to contribute to Saudi Arabia’s Vision is a reflection of GE’s diversified operations and its own ongoing transformation into the leading digital industrial company in the world.
These initiatives include a Memorandum of Understanding between the Saudi Arabian Industrial Investments Company (SAIIC) and GE to co-invest up to US$3 billion in industrial and manufacturing facilities in strategic sectors such as energy, water, aviation and digital. These include US$1 billion in joint investments to be rolled out by 2017, in addition to an aggregate potential investment of US$2 billion. The two companies also will work together to develop wide-ranging digital industrial applications and solutions that aim to foster home-grown digital innovation.
SAIIC is a joint venture of the Saudi Arabian Public Investment Fund, Saudi Aramco and Saudi Arabia Basic Industries Corporation (SABIC).
GE, Saudi Aramco and Cividale SpA are jointly working to build the MENA region’s first-of-its-kind, world-class forging and casting manufacturing facility. This US$400-million plant will create more than 2,000 jobs once operational by 2020, and will supply the Kingdom and global markets with forged and cast materials for the marine and energy industries.
GE Aviation is currently working with Saudi-based Middle East Propulsion Company (MEPC) to develop a Maintenance, Repair and Overhaul (MRO) facility for select Saudi military engines. GE and MEPC also signed a Memorandum of Understanding to explore using GE’s Industrial Internet platform, Predix, to establish a “Brilliant Depot” in Saudi Arabia.
GE is partnering with MODON (the Saudi Industrial Property Authority) to digitize 10 factories with GE’s Brilliant Manufacturing Software Suite. This will help the factories improve efficiencies and productivity, and gain significant cost savings reducing costs. The Brilliant Factory model demonstrated here can then be replicated across the Kingdom.
GE’s energy startup “Current, powered by GE,” is establishing a new GE Center of Excellence for LED Luminaire Manufacturing at the GE Manufacturing & Technology Center in Dammam. Set to begin operations by the end of 2016, the plant will manufacture and test 100,000 to 300,000 outdoor LED fixtures each year, once fully operational.
GE is launching an exclusive Saudi Leadership Academy in partnership with the Prince Mohammed bin Salman bin Abdulaziz Al-Saud Foundation (Misk Foundation), which works to enable learning and development among Saudi youth in support of a creative, knowledge-based economy.
Complementing the Saudi Vision 2030 goal of promoting workplace diversity and empowering women professionals, GE has signed an MoU with the Al Khobar Asharqia Chamber of Commerce to organize GE Garages-led training for Saudi women in industry. Additional digital trainings will enable them to develop industrial software applications on Predix. GE aims to train 1,000 women in the next five years.
Marking Saudi economic diversification into the high-innovation bio-tech field, GE has started a design study with SaudiVax for a multipurpose vaccine and monoclonal antibody facility in Riyadh that will help develop a full-fledged life sciences industry in the Kingdom, creating more than 1,500 new jobs. As well, GE Healthcare Life Sciences has been commissioned by the Ministry of Commerce & Industry’s National Industrial Clusters Development Program (NICDP) to undertake a vaccine feasibility study to potentially set up the Kingdom’s first bio-science park.
In support of the Saudi Vision 2030 goal of transforming healthcare delivery, GE is working with longtime Saudi partner Dr Sulaiman Al Habib Medical Group to bring cutting-edge radiology, digital and productivity solutions and services on behalf of the Ministry of Health and other public healthcare providers in the Kingdom.
GE has a long and deeply rooted history in Saudi Arabia, extending back more than 80 years. Working with government and private sector partners, GE has supported the Kingdom’s development in power, oil & gas, healthcare, transportation and aviation.