Global Trade Alert

On 13 December 2017, Saudi Aramco as part of its  In Kingdom Total Value Addes (IKTVA) program signed a Memorandum of Understanding with the Canadian-based entity SNC Lavalin.  IKTVA is a program established in 2015 and its primary scope is to achieve 70% localisation of Saudi Aramco's supply chain by 2021 (see related measure).

SNC-Lavalin is a global fully integrated professional services and project management company providing solutions in the area of capital investment, consulting, design, engineering, construction, operations and maintenance. Under the umbrella of this MoU, SNC Lavalin has committed to an action plan to support the overall IKTVA framework and the localisation target deliverables which are embedded in it. Therefore, leading towards SNC Lavalin via its operations in Saudi Arabia further contributing to developing local talent and creating opportunities for the local supply chain of Saudi Aramco.