Saudi Aramco to allocate $124bn for contractors

Divided into 24 categories, suppliers will have a choice between local and international contracts, according to a local daily

Aramco is to award products and services contracts within the next 5 years.
Aramco is to award products and services contracts within the next 5 years.

Local and foreign private sector companies will have products and services contracts worth $124.7bn (SAR468bn) from Saudi Aramco in the next 5 years, Al Riyadh daily reported.

Divided into 24 categories, suppliers will have a choice between local and international contracts, of which, products are budgeted at $39.9bn (SAR150bn).

Aramco considers it a corporate responsibility to work closely with suppliers and service providers and raise their quality of work and professional standards, regardless of these companies’ size or origin.

Aramco annually needs a range of construction products including raw iron, steel frames, chemical compounds used in manufacturing and drilling, heavy equipment, generators, medical supplies, housing and office supplies, AC equipment and many others.

The daily said Aramco has appropriated about $3.6bn to Saudi steel product manufacturers and contractors, $1.6bn to Saudi suppliers of various construction tools and products, $0.25bn in hydraulic equipment, $1bn in gear, $1.8bn in chemical products, $0.8bn in drilling equipment, $0.15bn for local suppliers of medical supplies and firefighting equipment, and another $0.4bn for local Saudi suppliers of general construction equipment.

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