Dubai, United Arab Emirates; December 15, 2016: GE Oil & Gas today won the Best in Supplier Development honor at the In Kingdom Overall Value Add (iktva) Excellence Honors program that noted the first anniversary of the launch of iKTVA, Saudi Aramco's worth producing payment to Saudi Vision 2030 and the National Transformation Program. The iktva Excellence Honors identify shown excellences in local value creation, and worth included local content in Saudi Arabia. Awardees are recognized local worth production partners of Saudi Aramco.

HRH Royal prince Saud bin Nayef Al-Sa' ud presented the award to Rami Qasem, President and CEO, GE Oil & Gas, Middle East, North Africa and Turkey, and Pole Christie, Chief Executive Officer, Turbomachinery Solutions, GE Oil & Gas.

" Through this award, GE is recognized for its efforts in developing the capacities of In-Kingdom providers in a number of locations, such as technical capacities, technology transfer, quality improvement and integration right into the international supply chain. Other considerations included GE's costs in supporting growth of local supply-chain abilities," said the Award citation by Saudi Aramco.

Rami Qasem, President and Chief Executive Officer, GE Oil & Gas, MENAT, said: "Winning the very first iktva Excellence Award is a fantastic honor for us, and a strong testament to GE's continued commitment to localization not just in Saudi skills however additionally in building the SME ecological community of the Kingdom. We equip our Saudi suppliers to enhance their technological competencies, aid build an assured market for their products, develop new jobs for Saudi youth, and also drive exports growth, contributing to the boosted competitiveness of the economic situation."

Amongst GE's key campaigns that supported the goals of iktva in enhancing the Saudi supply chain are the opening of the second phase of the GE Manufacturing Technology Center (GEMTEC) in Dammam that manufactures heavy duty gas wind turbines in the Kingdom. GE Oil & Gas has actually already delivered 12 high-efficiency gas compression trains for the Stage 1 of Saudi Aramco's Master Gas System expansion project, which were assembled totally at GEMTEC.

The GE Oil & Gas Stress Control Manufacturing Center at MODON in Dammam 2nd Industrial City is one more investment by GE that supports the local supply chain. It currently has the complete expertise to manufacture all ranges of wellhead tools in the Kingdom to the greatest specs. The Pressure Control center has actually currently tripled its ability to produce wellheads, valves and various other tools for the oil and gas market in Saudi Arabia, along with for exports.

GE Oil & Gas also contributes to the iktva program with the GE Oil & Gas Multi-Modal Manufacturing Center, a manufacturing, assembly, repair service, services, and training facility in Dammam that will create 100 premium quality works. It will certainly work as a hub for the complete portfolio of services under GE Oil & Gas, including Digital Solutions, Downstream Modern technology Solutions, Turbomachinery Solutions, Subsea and Surface, as well as all services of the recently acquired Alstom Grid business.

Even more, GE, Saudi Aramco and Cividale HEALTH FACILITY are jointly working to develop the MENA region's first-of-its-kind, world-class Forging & Spreading Production Facility, which will provide the Kingdom and global markets with forged and cast materials for the Marine and Power industries. With a total financial investment of US$ 400 million, the facility will be functional by 2020 and create over 2,000 brand-new local tasks.

As part of GE's initiatives to empower Saudi SMEs, GE hosted the Global Supplier Forum in Riyadh this year. The goal of the global occasion was to motivate GE's worldwide suppliers to either develop or increase their presence in the Kingdom. The Forum assembled over 500 companions and vendors from over 20 nations. Over 300 local Saudi manufacturers - qualied GE vendors and local suppliers invited by MODON, SAGIA and Saudi Aramco - connected with GE's international vendors for potential brand-new partnerships and to end up being part of a global supply chain.

In 2015, Saudi Aramco revealed a remarkable change to the requirement of doing business with the company and in the Kingdom of Saudi Arabia. In partnership with its vendor network, the company revealed it will increase the percentage of locally-produced energy-related goods and services to 70% by 2021, raise the level of exports for local energy items and solutions industry to 30%, and assist the power industry to deliver thousands of countless brand-new well-paid works for Saudis residents. The ambitious program, called iktva will have significant impacts on the Saudi economic climate, and will certainly be a win-win for Saudi Aramco, for the Kingdom, and for the business that do business below.

In 2016, building on the iktva theme of partnerships developed for common advantage, Saudi Aramco launched iktva Excellence Award to identify demonstrated local material success and commitment within Saudi Aramco's provider network. The concept of granting and acknowledging top entertainers in the iktva program came from HRH Royal prince Saud bin Nayef Al-Sa'ud, that called for awarding the most effective providers throughout the launch of iktva on December 1, 2015.

With a presence of over 80 years, 3 workplaces and seven facilities, Saudi Arabia represents the biggest GE workforce between East with over 2,000 employees driving the Aviation, Healthcare, Oil & Gas, Power & Water and Transportation businesses.