Global provider of advanced technology equipment and services, GE Oil & Gas, will fund innovation programmes in Saudi Arabia to the tune of US$100mn in a bid to drive local innovation in the kingdom
The new investment will push GE’s localisation plans, building innovation capacity and creating employment in advanced manufacturing and software analytics, the company said.
According to GE, the aims of the investment are to increase manufacturing capability in the Saudi region, with GE’s HA gas turbines at GE Manufacturing & Technology Centre (GEMTEC), while also expanding oil and gas manufacturing capacity.
The firm is also currently producing Pressure Control equipment including wellheads and Christmas Trees, GE revealed.
Saudi GE Innovation Centre recently implemented the ‘Hot and Harsh’ Global Research & Development Programme and Software and Analytics lab with a Monitoring and Diagnostics Centre at GEMTEC.
“We are proud to work with our partners to co-create solutions that will find application both in Saudi Arabia and globally. We believe that future skill-sets demand strong capability in both software and hardware; and we are committed to delivering that to our Saudi workforce and our ecosystem of partners, such as Saudi Aramco and Saudi Electricity Company, as well as SMEs,” said Jeffrey Immelt, GE Chairman & CEO.