RIYADH: Global energy giant Saudi Aramco has signed a non-binding memorandum of understanding with Samsung Electronics to localize industrial 5G communication networks and facilitate the digital transformation of the Kingdom, according to a press release. It noted that both companies will work together to contribute to the digital transformation of various industrial sectors in the Kingdom which includes energy, petrochemical, and manufacturing. Aramco, with the help of Samsung Electronics, will leverage advanced 4G and 5G technologies to provide secure, fast, and reliable communication means to meet the critical requirements of businesses operating in various industries. The new MoU was signed by Aramco, just two months after it launched a new digital firm during the In-Kingdom Total Value Add Forum, also known as iktva. “We are planning to invest $1.9 billion over the next three years, making it the biggest Aramco investment in digital to date, while adding value to the Kingdom’s digital ecosystem,” said Amin Nasser, Aramco’s president, and CEO following the launch. Ahmad A. Al-Sa’adi, Aramco executive vice president of technical services, said that the launch of Aramco digital company is “a great example of innovation in action, providing state-of-the-art AI and emerging technology expertise in a vital […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
