AVK to supply valves and hydrants to KAEC
King Abdullah Economic City (KAEC) has signed a long-term contract with AVK Saudi Valves Manufacturing Company (AVK) to supply high quality valves and fire hydrants.
AVK will supply its state-of-the-art products as the city continues to develop and expand its infrastructure.
This partnership is a key indicator of the caliber of companies working alongside KAEC in the delivery of a next generation city to support Vision 2030, said Fahd Al-Rasheed, Group CEO and Managing Director of KAEC.
KAEC continues to partner with new best-in-class companies to maintain our ability to provide a premium infrastructure that empowers growth.
With an annual turnover of approximately SAR 2.2bn ($586mn), AVK is one of the worlds largest manufacturers of valves, pipes and hydrants, focusing their expertise primarily on these core product areas.
The company has been manufacturing locally in the Kingdom for over 30 years, and supplies projects across Saudi Arabia, Qatar and the UAE.
AVK places the support of Saudi Arabias economy at the center of its business practices. Offering world-class skills and expertise to Saudi employees, we are currently on track to soon reach Saudization levels of over 40%, said Ole Hedegaard, Managing Director of AVK.
Partnering with KAEC, a city designed to support the growth of Saudi into the future, is a natural direction for us, and we are very excited about the level of sustainable, high quality projects being developed there.
The new partnership with AVK supports a commitment by both parties to prioritizing the use of high quality domestically manufactured products in the growth of local communities.
KAECs continued development is evidence of the power of Vision 2030 to drive an economy beyond oil, said Fahd Al Rasheed. The advanced infrastructure of the city has been developed in partnership with renowned industry leaders, focusing on a premium level product to increase safety and security for all investors.