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Under the patronage of the Ministry of Energy, a new joint venture agreement has been signed to accelerate the localization of manufacturing in the Kingdom’s conventional power sector. The agreement brings together key players in the industry, including Dalian Insulators Group, and Power Union Company—a subsidiary of Al-Ojaimi Industrial Group and GREENGRID Company. The official signing ceremony, held in Riyadh, marks a strategic milestone under the Ministry’s broader Nuwat’in program, which aims to strengthen national capabilities in the energy industry. The deal focuses specifically on localizing the manufacturing of extra-high voltage (EHV) and high voltage (HV) suspension porcelain insulators, which are critical components in electricity transmission infrastructure. The joint venture aligns with Saudi Arabia’s Vision 2030 goals by aiming to:Enhance local manufacturing capabilities within the conventional power sector. Support the localization of key energy sector components to reduce reliance on imports. Improve national supply chain efficiency and fortify the country’s energy infrastructure. As part of the partnership, the involved companies will focus on establishing domestic production capabilities for insulators previously sourced internationally. This initiative is expected to stimulate job creation, increase industrial resilience, and contribute to technological advancement in the Kingdom’s power sector. By enabling advanced manufacturing through international collaboration, this venture represents a major step in achieving the Kingdom’s localization targets. It reinforces Saudi Arabia’s commitment to developing a self-sufficient and globally competitive energy sector. |
