Latest news with #IndustrialTransformation
Arab News
5 days ago
- Business
- Arab News
Saudi Arabia launches advanced manufacturing center to boost industrial innovation
JEDDAH: Saudi Arabia has launched the Advanced Manufacturing and Production Center, a key initiative aimed at accelerating the Kingdom's industrial transformation through the adoption of advanced technologies and sustainable practices. Unveiled on May 28, the center is set to play a central role in promoting efficiency, flexibility, and growth within the manufacturing sector. It will utilize technologies associated with the Fourth Industrial Revolution to localize production and enhance Saudi Arabia's competitiveness on the global stage. The initiative also supports strategic industries while aligning with the objectives of Saudi Vision 2030, the country's long-term plan to diversify its economy. A major focus is encouraging private sector collaboration to speed up the integration of emerging technologies into industrial operations. The launch supports the National Industrial Strategy, introduced in October 2022, which aims to increase the number of factories in the Kingdom to approximately 36,000 by 2035. The strategy is designed to attract investment, scale up local production, and strengthen non-oil exports. The Ministry of Industry and Mineral Resources is overseeing several projects to advance the Kingdom's industrial and logistical infrastructure, positioning Saudi Arabia as a key player in global manufacturing and trade. 'Adopting the latest industrial technologies raises the efficiency of our industrial sector and enhances its competitiveness regionally and globally,' said Khalil bin Ibrahim bin Salamah, deputy minister of industry and mineral resources for industrial affairs, in a post shared by the ministry on X. In an accompanying video, the ministry reiterated the center's significance in meeting national goals: 'The Advanced Manufacturing and Production Center opens doors to industrial investment opportunities and stimulates the sector to adopt new manufacturing technologies within industrial facilities.' The center is supported by several initiatives and programs, including the Future Factories Program, which aims to modernize 4,000 factories across the Kingdom. The FFP focuses on integrating advanced manufacturing systems to boost efficiency and build more resilient supply chains—particularly in critical sectors such as food and petrochemicals. According to its official website, the center serves as a hub for industrial innovation, providing consultancy services, training, and technological solutions. It is dedicated to fostering sustainability and competitiveness across the manufacturing sector. Through these efforts, the center is expected to significantly contribute to Saudi Arabia's Vision 2030 goals by localizing high-tech capabilities, attracting investment, and advancing the industrial sector's role in the nation's economic diversification.
Zawya
22-05-2025
- Business
- Zawya
Nigeria's Olu Verheijen Joins African Energy Week (AEW) 2025 as Nigeria Strives for Energy Investment and Reform
Nigeria's Special Advisor to President Bola Tinubu on Energy, Olu Verheijen, has joined the 2025 edition of African Energy Week (AEW): Invest in African Energies - taking place from September 29 to October 3 in Cape Town – as a speaker. With Nigeria making significant strides in refining capacity, oil production and electrification, Verheijen's presence at AEW: Invest in African Energies 2025 is set to spotlight the country's role in shaping the continent's energy future and driving industrial transformation across Africa. Under the current administration, Nigeria has achieved major milestones in the energy sector, including securing three of Africa's four Final Investment Decisions (FIDs) valued at over $5.5 billion and commencing petroleum production at Africa's largest refinery – the Dangote Refinery. On the back of these milestones, Verheijen is expected to emphasize how Nigeria's energy reforms and growing capacity are not only booting national development but also strengthening regional energy security, supporting intra-African trade and laying the groundwork for sustainable job creation and economic diversification. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. As one of Africa's biggest oil and gas producers, Nigeria seeks to incentivize greater spending across the hydrocarbon industry. This month, energy major ExxonMobil announced it will invest $1.5 billion in revitalizing its Usan deepwater oilfield on offshore block OML 138 in Nigeria, with FID expected by Q3, 2025. The investment, spanning 2025 to 2027, aligns with Nigeria's production target of 2.5 million barrels per day by year-end and falls under the Nigerian Upstream Petroleum Regulatory Commission's Project 1 Million Barrels initiative. Meanwhile, in 2024, the country's energy sector attracted $6.7 billion in investments in 2024, with $5.5 billion directed toward oil and gas asset acquisitions – including major deals by Seplat, Chappal Energies and Oando – and an additional $1.1 billion allocated to the Presidential Metering Initiative and clean energy programs. The government also secured landmark investments such as Shell subsidiary SNEPCo's $5 billion Conga North project and a $550 million non-associated gas project by TotalEnergies and the Nigerian National Petroleum Company. These developments, driven by strategic reforms and tax incentives, underscore Nigeria's ambition to unlock $30 billion in oil and $5 billion in gas investments by 2029, positioning the country as a key driver of Africa's energy transition and industrial growth. In the downstream sector, the UAE recently joined a group of international financiers backing the estimated $25-billion Nigeria-Morocco gas pipeline project, which aims to transport natural gas from Nigeria to Europe via 5,660-km route crossing 15 African countries. With support from partners including the European Investment Bank, Islamic Development Bank and OPEC Fund, and a new joint venture formed between Morocco and Nigeria to manage the project, the initiative marks a major milestone in African energy infrastructure. As the country continues to attract substantial investments, it stands ready to bolster production capacity and exports. At AEW: Invest in African Energies 2025, insights from Verheijen will prove valuable, supporting decision-making by major oil and gas players. 'Nigeria's bold reforms, rising investment flows and growing leadership in regional energy cooperation – particularly with landmark projects like the Nigeria-Morocco gas pipeline – demonstrate its pivotal role in Africa's energy future. The country's recent achievements and future vision inspire collaboration and deal-making, thereby accelerating the continent's path to energy security and industrialization,' stated Tomás C. Gerbasio, Strategy and Business Development Director of the African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
19-05-2025
- Business
- Zawya
Fourth 'Make it in the Emirates' kicks off in Abu Dhabi
ABU DHABI - The fourth edition of Make it in the Emirates kicked off today under the theme 'Advanced Industries Accelerated'. The event runs until 22nd May at the ADNEC Centre Abu Dhabi, with broad local and international participation from decision-makers, officials from both public and private sectors, entrepreneurs, investors, industrialists, experts, innovators and financial institutions. Spanning four days, Make it in the Emirates 2025 will explore key topics including AI-driven manufacturing, smart industrial transformation and national content, advanced manufacturing and industrial entrepreneurship, along with major announcements and offtake deals expected across each track. The day-one events will commence under the title The UAE's Vision – Shaping the Future of Manufacturing. The day will also include a ministerial keynote highlighting the redefinition of industry, trade and investment, and a ministerial leadership panel on Integrating Transnational Supply Chains: International Industrial Alliances & Partnerships. This year's edition features 720 exhibitors across a space of 68,410 square metres, more than 300 speakers, and showcases over 3,800 products. The event also includes announcements of new projects, initiatives and investment opportunities across 12 vital sectors. Winners of the third edition of the Make it in the Emirates Awards will be honoured, followed by a Trailblazers Talk session sharing a notable success story. Other sessions include panels exploring What it Takes to Take the Made in the Emirates Brand Globally and The Future of Supply Chains: Strategic Investments and Regional Hubs.
