Energy Localization Forum sees 107 deals worth SAR 104B

A photo of participants at Energy Localization Forum

The Energy Localization Forum witnessed today, Oct. 23 the signing of 107 strategic agreements and memoranda of understanding aimed at reinforcing the Kingdom's global leadership in the energy sector.

These agreements were concluded with 117 entities from the public and private sectors, with a total estimated value of SAR 104 billion, according to the Saudi Press Agency.

The two-day event, inaugurated today, is hosted by the Ministry of Energy in strategic partnership with Saudi Aramco, Saudi Electricity, and SABIC.

The forum aligns with efforts to achieve 75% localization in the energy sector as part of the Kingdom's Vision 2030. It also highlights the importance of localizing the energy sector to build a sustainable future for upcoming generations, stimulate national economic growth, and attract both local and international investments.