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Tue 9 Apr 2019 02:28 PM

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Former energy adviser to lead Saudi Arabia's manufacturing push

Dussur, a joint venture of the Public Investment Fund, Saudi Aramco and Sabic, announces appointment of Dr Raed AlRayes as its new CEO

Former energy adviser to lead Saudi Arabia's manufacturing push
Dr Raed AlRayes, the new CEO of Dussur.

Dussur, a joint venture of the Public Investment Fund (PIF), Saudi Aramco and Sabic, announced on Tuesday the appointment of Dr Raed AlRayes as its new CEO.

Dussur was established by a Royal Decree in 2014 to diversify and accelerate manufacturing in Saudi Arabia.

The company also aims to provide the largest possible number of job opportunities for Saudi nationals through its various investments in targeted industrial sectors.

AlRayes has previously held several senior positions in major companies in Saudi Arabia, including deputy CEO and head of Investment Banking at Al Rajhi Capital and has most recently served as an advisor to the Minister of Energy, Industry and Mineral Resources.

“We are confident of the ability of Dr Raed to be instrumental in implementing the company’s strategy to open up new industrial sectors that will be of great importance to realizing the goals of Vision 2030, most notably those of job creation and economic diversification,” said Mohammed Abunayyan, chairman of Dussur.

AlRayes added: “I am grateful for the confidence bestowed upon me by the board and being selected to lead Dussur. I will be working along with my colleagues to continue the journey... and cement the company’s position as a catalyst of achieving the kingdom’s Vison 2030 through the establishment of valuable partnerships with leading global players.”

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