Aramco Asia India convenes Supplier Forum 2023

From L-R: Mr. Ali H Al Beshri, Sourcing & SRM Manager, Aramco Asia India Pvt. Ltd (AAI); Mr. Saud Al Jaloud, VP Procurement, Saudi Aramco; Mr. Hussain Shariyarr from Godrej & Boyce; Mr. Mohammed S. Al Herbish, Managing Director, Aramco Asia India Pvt. Ltd. and Mr. Mohammed A. Humaidi, Director of Aramco Asia Procurement & Supply Chain Department (P&SCM) at the AAI Supplier Forum 2023.
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Aramco Asia India (AAI) hosted the second edition of AAI’s Supplier Forum 2023 at New Delhi, India, on September 26, to engage with Indian suppliers, prioritize Aramco’s In-Kingdom Total Value Add (iktva) program, and promote investment opportunities in the Kingdom of Saudi Arabia.

AAI Managing Director Mohammed S. Al-Herbish noted in his inaugural address, “AAI Supplier Forum aims to strengthen our partnerships, share insights with industry experts, and explore new horizons in the energy sector. Saudi Aramco believes in India’s industrial strength and capabilities and as such recognizes the significance of expanding its presence in the country. Our Indian operations not only meet India’s crude and LPG demand but also fulfil Saudi Aramco’s requirement of materials and services to create a resilient supply chain.”

Saud S. Al-Jaloud, vice president of Procurement, mentioned, “Our strategic sourcing and procurement business with Indian companies is growing and the value of materials and services sourced by Aramco from Indian companies is around three billion US dollars over the last five years, and with more than two billion US dollars over the past three years. and we expect a 100% increase to reach six billion US dollars by the end of this year. We are embarking our largest capital investment program in history with an estimated procurement spending between 45 to 55 billion US Dollars this year alone.”

Mohammed A. Humaidi, director of Aramco Asia Procurement & Supply Chain Department (P&SCM), noted, “India's industrial strength and capabilities are one of the areas Aramco is considering for expanding our supplier base and increasing the value of materials and services sourced from India. At Aramco, we focus on establishing a robust and dynamic global supply chain while contributing to the development of Saudi Arabia's local supply chain.”

(Standing) From L-R: Mr. Ali H Al Beshri, Sourcing & SRM Manager, Aramco Asia India Pvt. Ltd; Mr. Saud Al Jaloud, VP Procurement, Saudi Aramco; Mr. Mohammed A. Humaidi, Director of Aramco Asia Procurement & Supply Chain Department (P&SCM) (Sitting) From L-R: Mr. Marut Sengupta, Deputy Director General, of Confederation of Indian Industry and Mr. Mohammed S. Al Herbish, Managing Director, Aramco Asia India Pvt. Ltd. during the MOU Signing Ceremony at the AAI Supplier Forum 2023.

During the forum, two Indian companies, Gumpro Drilling Fluids Pvt. Ltd. & Crane Process Flow Technologies India Pvt. Ltd. briefed the participants with their success stories of establishing a supply base in Saudi Arabia and showcasing how localization granted them competitive advantage under Aramco’s iktva program.

Also at the forum, Aramco signed four Memorandum of Understanding (MOU) with major partners of Confederation of Indian Industry (CII), Godrej & Boyce Manufacturing Company Limited, Polyhose India Pvt. Ltd., and Sainest Tubes Pvt. Ltd. The MOUs lay the foundation for further collaborations and exploration of investment prospects.

The forum is the most recent action Aramco has taken to enhance supply chain resilience and facilitate dialogue with suppliers.

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