Lamprell's pivotal role in KSA’s Vision 2030 is underscored by its strategic investments and partnerships, driving economic expansion and sustainability initiatives

Lamprell's growth in Saudi Arabia closely aligns with the Kingdom’s Vision 2030 through strategic investments and the forging of key partnerships to drive economic expansion and bolster sustainability efforts.

Launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs, Vision 2030 aims for economic diversification and advancement across various sectors including health, education, infrastructure, recreation, and tourism.

Employees at Lamprell's KSA office

A key success strategy by Lamprell and its owner Algihaz Holding is collaboration with major Saudi entities like Aramco and International Maritime Industries (IMI) yard to drive progress.

Algihaz Holding, a leading Saudi-owned investment company and the majority shareholder of Lamprell, invests in key sectors like energy, utilities, and infrastructure.

Its focus on sustainable energy solutions, including renewable energy projects, aligns with Saudi Arabia’s goal of diversifying its energy solutions.

Through Lamprell, which has oil and gas and offshore wind business streams, Algihaz creates job opportunities, supports local talent, and encourages technological innovation, which aligns with Vision 2030.

STRATEGIC INVESTMENTS

Lamprell’s 2017 investment in IMI, alongside Aramco, Bahri, and Hyundai Heavy Industries, is vital for Saudi Arabia’s maritime sector.

Lamprell's mangrove tree plantation 2024 campaign in KSA

Located in Ras Al-Khair, IMI is set to be the region’s largest maritime facility, boosting job creation, skill development, and technology transfer.

This supports Saudi Arabia’s goal to enhance its position in global maritime trade and industrial growth.

In 2018, Lamprell’s selection as one of the few contractors in Aramco’s LTA programme for offshore facilities marked a significant achievement.

This allowed Lamprell to participate in major projects for the Kingdom, with several currently ongoing in its UAE facilities and destined to reach various locations in Saudi Arabia in the coming months and years.

In partnership with Aramco and in support of the Saudi Green Initiative (SGI), Lamprell commenced a sustainable endeavour in Q1 2024 and planted 10,000 mangroves along the Arabian Gulf coastline on Abu Ali Island, northeast of Jubail.

The ceremonial planting event, attended by representatives from Lamprell and Aramco, took place in early March 2024.

Lamprell’s establishment of a Saudi office in 2018 (LKSA) further cements its commitment to Saudi Arabia.

Located in Dhahran, LKSA enhances Lamprell’s local presence, supports the IMI joint venture, and strengthens connections with sister companies under Algihaz’s umbrella in Saudi Arabia.

This positioning enhances Lamprell’s ability to support Aramco’s In-Kingdom Total Value Add (iktva) programme targets effectively.

In February 2024, Lamprell's senior management alongside Algihaz participated in the International Petroleum Technology Conference (IPTC), which was held at the Dhahran Expo.

Algihaz was a principal sponsor at the event.

In essence, Lamprell’s multifaceted involvement in the Kingdom’s industrial sector, from manufacturing offshore products to nurturing local talent, solidifies its dedication and role in contributing to Vision 2030.

By Abdulaziz Khattak