{"id":2910,"date":"2022-09-06T10:06:00","date_gmt":"2022-09-06T10:06:00","guid":{"rendered":"https:\/\/gulftimes.ae\/champions-created-to-deliver-key-projects\/"},"modified":"2022-09-06T10:06:00","modified_gmt":"2022-09-06T10:06:00","slug":"champions-created-to-deliver-key-projects","status":"publish","type":"post","link":"https:\/\/gulftimes.ae\/?p=2910","title":{"rendered":"Champions created to deliver key projects"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<p>Gulf countries push local involvement in public\u00a0sector work and the development of state-owned companies into major regional and international entities<\/p>\n<div>\n<p><u><span style=\"color:#FF0000;\"><strong><\/strong><\/span><\/u><u><span style=\"color:#FF0000;\"><strong>Download the infographic<\/strong><\/span><\/u><\/p>\n<p><strong>National champions emerge to cater to projects boom<\/strong><\/p>\n<p><em><strong>Region forms national champion companies to guarantee the delivery of its most strategic projects<\/strong><\/em><\/p>\n<p>On 5 July, Saudi Aramco announced the expansion of its Namaat industrial investment programme with the signing of\u00a055 agreements and memorandums of understanding.\u00a0<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/image.digitalinsightresearch.in\/Uploads\/ImageLibrary\/Active\/MEED\/2022\/09\/PUSH_pics\/NationalChamp-PUSH.gif\" style=\"margin-left: 5px; margin-right: 0px; float: right;\" \/>Crucially, they included\u00a0six agreements with joint ventures\u00a0comprising local and international partners for the engineering, procurement and construction (EPC) of new projects in the kingdom.\u00a0\u00a0<\/p>\n<p>The joint ventures involved some of the world\u2019s largest EPC players, namely Samsung Engineering, Saipem, Sinopec Shanghai Engineering Company, Hyundai, Kent and Larsen &amp; Toubro, teaming up with major players in the kingdom to invest and build up their resources in the country.<\/p>\n<p>The Aramco signing ceremony in Dhahran was the strongest sign yet of the commitment to establishing national champions tasked with delivering key infrastructure projects.\u00a0\u00a0<\/p>\n<p>The drive to create national champions is both a decision aimed at retaining the positive multiplier effect of infrastructure spending within the domestic economy and a move born out of necessity as the entities charged with delivering major projects grow more concerned about the supply chain\u2019s ability to deliver ambitious programmes of work. <span style=\"color:#FF0000;\"><strong>Read more<\/strong><\/span><\/p>\n<div style=\"background:#eee;border:1px solid #ccc;padding:5px 10px;\"><em>This infographic\u00a0has been unlocked to allow non-subscribers to sample MEED\u2019s content. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED\u2019s business intelligence,<strong>\u00a0subscribe here<\/strong><\/em><\/div>\n<p><span style=\"color:#FF0000;\"><img decoding=\"async\" alt=\"\" src=\"https:\/\/image.digitalinsightresearch.in\/Uploads\/ImageLibrary\/Active\/MEED\/2022\/09\/PUSH_pics\/MBR2209_Cover-250-height.gif\" style=\"border-width: 1px; border-style: solid; margin-left: 0px; margin-right: 5px; float: left; width: 154px; height: 200px;\" \/>Related reads in the September issue of MEED Business Review:<\/span><\/p>\n<p><strong><span style=\"color:#FF0000;\">&gt;<\/span>\u00a0National champions face same root challenge<br \/>&#13;<br \/>\n<span style=\"color:#FF0000;\">&gt;<\/span>\u00a0Emirates Steel Arkan champions UAE&#8217;s projects sector<br \/>&#13;<br \/>\n<span style=\"color:#FF0000;\">&gt;\u00a0<\/span>South Korean contractor seeks regional growth<br \/>&#13;<br \/>\n<span style=\"color:#FF0000;\">&gt;<\/span>\u00a0Read the September edition of MEED Business Review<br \/>&#13;<br \/>\n<span style=\"color:#FF0000;\">&gt;\u00a0<\/span>Download the issue<\/strong><\/p>\n<table border=\"1\" cellpadding=\"1\" cellspacing=\"1\" style=\"width:350px;\">\n<tbody>\n<tr>\n<td style=\"background-color: rgb(221, 221, 221); text-align: center;\"><img decoding=\"async\" alt=\"\" src=\"https:\/\/image.digitalinsightresearch.in\/Uploads\/ImageLibrary\/Active\/MEED\/1._Useful_things\/FollowMEEDonLinkedIN-small.gif\" style=\"width: 350px; height: 25px;\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.meed.com\/gulf-creates-champions-to-deliver-key-projects\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gulf countries push local involvement in public\u00a0sector work and the development of state-owned companies into major&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-2910","post","type-post","status-publish","format-standard","hentry","category-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v27.4) - 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