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FINANCIAL NEWS
GE to widely facilitate its Saudi USD1b investment
03 Nov 2015
(MENAFN) GE, the top American multinational conglomerate corporation, has confirmed its commitment to Saudi Arabia in terms of substantially increasing localization in energy supply chain from extraction to consumption.
The US tech giant’s new USD1 billion investments set a goal to double Saudi work force, strengthen domestic manufacturing, develop SME supply chain and extensively training and preparing Saudi professionals.
The invested initiatives include expanding GE’s work force in the nation from 2,000 to 4,000 by 2020 and to extend its Saudi supplier base to build a strong Saudi supply chain that supports GE’s local manufacturing plants.
“GE enjoys a strong history in Saudi Arabia of over 80 years of operation, and we are a partner that has invested in the long-term growth of the nation,” stated the company’s chairman and chief executive officer.
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