Bena in deal with UK group to explore opportunities in energy sector
RIYADH, July 11, 2023
Saudi-based Bena Steel Industries has entered into a strategic partnership agreement with UK-based energy solutions provider Alderley to develop joint opportunities in KSA's energy sector in line with its Vision 2030 plan.
The MoU is focused on building in-country capability, supply chains and solutions in the energy sector to support Saudi Arabia's long-standing endeavours to deliver energy security to the world through existing hydrocarbon production and the development of new cleaner technologies, including in areas such as hydrogen.
A major player in Saudi energy sector for the last 30 years, Alderley has two manufacturing facilities in Dammam including the M24 unit which is a fully approved and equipped advanced engineering centre in the kingdom.
Registered with global energy leader Saudi Aramco, the plant is for the manufacture and supply of production critical assets including custody metering systems, modular wellsite skids, chemical injection systems, as well as truck loading and unloading skids.
As part of the MoU, Bena Steel said it also plans to invest in the M24 branch.
"Partnering with Alderley will enable us to establish the platform to be the leading system integrator in-Kingdom, strengthen the country’s supply chain and deliver long-term sustainable growth and prosperity for the people of Saudi Arabia," said Bena Steel Industries CEO Fawaz Albawardi.
"With this MoU we are taking another positive step forward to delivering on the ambitious Vision 2030 programme," he added.
Alderley said this strategic partnership builds on several years of its successful collaboration with the Saudi company, a key in-Kingdom supplier of steel products used on the British group’s skid-mounted, integrated solutions for the energy industry.
The MoU deepens this collaboration further and positions both companies as leading players in the country’s burgeoning low-carbon space, said a top official.
CEO Colin Elcoate said: "Our strategic partnership with Bena Steel is symbolic of our long-standing commitment to grow our business in Saudi Arabia – a country, which continues to show global leadership in energy production."
"This strategic endeavour will enable both companies to develop long-term supply chain solutions for the Kingdom to meet its needs to develop a more efficient and lower carbon energy sector. This won’t just benefit Saudi Arabia but will also positively impact international energy markets," he noted.
Alderley (Middle East) Managing Director Dermot Clarke said: "We’re thrilled to sign a strategic partnership with one of the leading companies in Saudi Arabia, if not the whole Mena region. This partnership will enable Alderley and BSI to address the current and future needs of the whole energy sector – both the traditional hydrocarbon sector and the emerging low carbon economy."
"It’s fantastic to continue putting down deep roots into a country pivotal to meeting the world’s growing demand for energy," he stated.
The company has delivered over 500 systems in-country to date and developed its first hydrogen metering system for Saudi Arabia in 2011, he added.-TradeArabia News Service
