Amiantit achieves 77% of IKTVA program targets

Saudi Arabian Amiantit Co. achieved 77% of the In-Kingdom Total Value Add (IKTVA) program’s objectives, a rise of 23% from 54% last year. The company also ranked first in terms of exports under the program.

Amiantit aims to achieve 100% of the program targets in 2021, the company said in a bourse statement on Tuesday, adding that the advanced position will enhance its competitive ability and enable it to compete with global peers in the local market.

The achievement is expected to reflect positively on sales volumes at affordable prices, Amiantit added.

IKTVA program was launched by Saudi Aramco to enhance the added value in the goods and services supply sector, through technology localization, increased local production, as well as boosting Saudization in line with Vision 2030.