Delivering local value through our sustainability universe
Sustainability is integral to the Saudi Tabreed business values and this is translated into initiatives aligned with Vision 2030 that are designed to create long-term value through every aspect of our business.
We aim to capture long-term benefits and drive domestic value creation across our sustainable universe through a holistic approach that includes working with local and international manufacturers to attract investment, drive localized innovation, knowledge sharing, and job creation to increase the kingdom’s global competitiveness towards a more sustainable future.
We are focused on encouraging local manufacturing to meet the demand from Saudi Made products and add real economic value to the Kingdom. We have a substantial pipeline of projects including some of the kingdom’s most notable Mega Projects that need existing local manufacturers. Some of these local manufacturers we already cooperate with to support the development of our projects, including manufacturers in equipment, piping, cables, and accessories. Moreover, Saudi Tabreed is in discussion with leading international companies that are eager to have a presence in the Kingdom of Saudi Arabia.
We are working with potential partners across Europe, China, and North America to initiate a process for either local manufacturing or local assembly. Having the parts manufactured or assembled in Saudi Arabia not only adds immense value to the economy as a whole, but it also brings numerous benefits for Original Equipment Manufacturers (OEMs) through shorter lead times, reduced costs, as well as providing them with a competitive advantage as they position themselves to be part of these Mega Projects. In line with these efforts, Saudi Tabreed encourages skill acquisition among Saudi nationals. As we provide in-house Training and Development Programs. at the specialized training center of Higher Institute for Water and Power (HIWPT) in Rabigh, which has been operational for seven years now, we train fresh local graduates on the operation and maintenance of district cooling plants. Local talents now occupy key positions across most of our departments and these quality opportunities will continue to increase as our project portfolio grows.
Although localization is a key element of our sustainability strategy, our positive impact on the kingdom’s overall sustainability is focused on supporting a more energy-efficient kingdom. This is core to our business model and community impact. We leverage world-class district cooling technologies, while also joining hands with project partners in renewable energy, to substantially reduce the kingdom’s carbon emissions. Our partnership with Acwa Power on the iconic Red Sea Project, for example, will witness the development of a 100% renewable energy solution and it is this type of collaboration with partners in the “sustainability universe” which will add extensive value towards the achievement of Vision 2030, shaping not only a more sustainable economy, but also contributing towards achieving clean, efficient, and affordable energy for a more energy-efficient future for generations to come.