Saudi Arabia and the Netherlands are gearing up to step up bilateral industrial cooperation in some of the key sectors with the participation of leading companies in the private sector.
The initiative, discussed during the visit of the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, to the Netherlands, involves identifying opportunities to localise specific industries in the kingdom in sectors such as automobiles, petrochemicals, and food.
The plans on the anvil include the transfer of advanced technology and the development of value-added industries with the active participation of some of the major Dutch companies.
Among the Dutch companies with which the Saudi minister held discussions include Norion, which specialises in petrochemicals, Lamb Weston, which specialises in the food industry and Akzo Nobel, which specialises in paint products.
The proposed cooperation move with Norion could include the transfer of modern technology used in the petrochemical industry to develop new products that meet the needs of the region and the world, while Lamb Weston is to explore opportunities for developing the kingdom’s food industry with value-added products.
Akzo Nobel is to explore opportunities for expanding the production of paints to meet the growing demand in the Saudi market, while Fadl Nadkar, an automobile major, will explore the opportunity for establishing a factory to localise the manufacture of commercial vehicles and trucks.
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