Namaat
Aramco Namaat is one of our programs that aim to create strategic partnerships that drive the economic expansion and diversification of Saudi Arabia.
Sometimes an exciting opportunity can exist, but without the necessary support, guidance and expertise, can simply remain untaken.
At Aramco, one of our core missions is to create new value from the vast opportunities available in Saudi Arabia. And to help others access and seize these opportunities.
We want more of the products and services that Aramco relies upon to be available in-Kingdom and key to that mission are our industrial investment programs, run by Aramco Namaat.
Namaat — which in Arabic means ‘growth’ — works with major global and local partners, collaborating on large-scale investment opportunities, or enabling new partnerships that support economic growth and the formation of new, unicorn-scale companies. We call these companies ‘National Champions’ and they are expected to lead in their sectors, and generate growth and jobs in the Kingdom. We work on transaction deals that form ventures with leading businesses around the world, pooling our resources to bring new ideas to life. All this helps us play a key role in developing a vibrant, world-class, competitive energy and industrial ecosystem.
Driving diversification
Officially launched in 2021, Namaat’s strategic objective is to support a diverse and sustainable national economy with the aim of creating thousands of new jobs, and the goal of contributing substantially to the Kingdom’s gross domestic product (GDP).
Namaat’s role is to use its investments, partnerships, and regional expertise to help aspiring companies develop and grow all the way up to becoming National Champions.
Namaat offers our partners opportunities to participate in Aramco’s long-term growth strategy and play a vital role in the Kingdom’s expanding energy and chemicals value chain.
Namaat capitalizes on Aramco’s market and technical experts in engineering services, procurement and supply chain, digital transformation, project management, information technology, and venture capital, helping candidate companies develop their business strategy.
The fusion of our technical and commercial strengths is what differentiates Namaat and places it at the forefront of investment portfolio drivers of a diversified national economy.
"The opportunities and growth potential that will result from Aramco Namaat are tremendous — as are the benefits for participating companies, the Kingdom’s economy, and the Saudi people.”
Aramco Chairman, H.E. Yasir Al-Rumayyan
Namaat focuses on creating strategic partnerships in five key focus areas aligned with Aramco’s corporate objectives.
Sustainability
Promotes Aramco’s circular economy principles through investments in projects and technologies targeted at reducing the carbon footprint of manufacturing facilities, discouraging waste, and supporting the clean energy transition
Digital
Explores opportunities that support digital transformation and emerging advanced technologies to enhance operational efficiency and improve performance in terms of safety, reliability, cost, and the environment
Manufacturing
Investments aiming to step up innovation in areas such as nonmetallics, which can be used in construction, automotive, packaging, and other sectors
Industrials
Includes investments in innovations that aim to continuously improve value chain reliability and catalyze energy ecosystem growth
Social innovation
Seeks out scalable and impactful opportunities that improve the welfare of societies, and enhance the wellbeing of citizens across the Kingdom, as well as that of contractors working for Aramco
Opportunities for growth
Since its launch, the scale and breadth of Namaat has increased significantly, expanding from 32 to 55 investments within its first year.
Discovering and unlocking fresh opportunities is one of Namaat’s core strengths. We map the fast-evolving domestic and global economic landscapes, using our in-house expertise and business intelligence tools to identify frontline emerging trends in technology and science. These unlocked opportunities are then nurtured into a value-proposition, originated and initiated by Namaat, and then offered to prospective partners who are best-placed to fill these opportunity gaps.
Namaat initiated and progressed 19 partnerships between 2021 and 2022.
“The options for local and multinational organizations available right here and right now are both remarkable and wide-ranging. The door is open. The value waiting to be captured is there for the taking.”
Aramco President and CEO, Amin H. Nasser
Tapping into the global industrial ecosystem
These projects aim to drive economic advancement and help support our environmental goals, our business, our partners, and the wider energy and chemicals sector.
And, importantly, they also aim to help support and attract the ideas, people, and technologies needed to drive future growth in the Saudi private sector.
To make the partnerships and investments work, we must draw upon the global commercial ecosystem and industry leaders, to find the best ideas, and the right partners to build them with, and then incubate, validate, and deploy them, supporting their growth every step of the way.
Building connections — bringing new businesses and government support programs together
Namaat aims to help enable and accelerate public-private partnerships and new investments. Many of these investments are supported by the Kingdom’s incentive programs, including the Shareek program, one of several government-led initiatives which incentivize companies to increase their domestic investments, and demonstrates the cultural support and guidance often needed for major investments such as these to succeed. Namaat is an ideal partner for those global or multi-national companies looking to establish themselves in the region — and leverage Aramco’s unique position — offering extensive knowledge of the incentive programs on offer, as well as aiding in establishing relationships with other public sector agencies and programs.
Nurturing the innovation venture life cycle
We believe in supporting innovative ideas that have the potential to generate tangible economic benefits. This requires an innovation ecosystem to incubate these ideas and help turn them into businesses with a significant impact on the world.
To help achieve this, we have created a complete cradle-to-maturity innovation system to help develop businesses in manufacturing, digital technology, sustainability and more, from the pre-seed to seed stage, and then through their Small and Medium Enterprise (SME) level growth, up to corporation status.
Ultimately, the goal is to produce National Champions — trailblazing businesses that generate job opportunities and lead growth in their sectors.
This complete venture lifecycle aims to take businesses from pre-seed stage to unicorn level — those businesses worth more than $1 billion.
Namaat is the fourth element of Aramco’s venture life cycle, which helps new enterprises develop from ideas to start-ups through Lab7, work up to small and medium-sized enterprise (SME) level with support from Wa’ed, and then accelerate and scale, with the hope of creating jobs, via Taleed.
Future-focused growth
We offer our partners opportunities to participate in Aramco’s long-term growth strategy, and play a vital role in the Kingdom’s expanding energy and chemicals value chains. By facilitating localization, strategic alliances, and joint venture partnerships, to help establish candidate companies on the global stage, Namaat is making an important contribution to creating a fully-diversified national economy.
Namaat is the natural next step to our In-Kingdom Total Value Add (iktva) program, which is focused on enhancing supply-chain efficiencies and reliability. It also complements other initiatives that aim to create a world-class energy and industrial ecosystem in Saudi Arabia, such as the King Salman International Complex for Maritime Industries and Services, and King Salman Energy Park (SPARK), a sustainability-focused energy park being built by Aramco.
In-Kingdom Total Value Add (IKTVA) Program
Our In-Kingdom Total Value Add (iktva) program is designed to drive supply-chain efficiency and value across our operations, and to encourage the development of a diverse, sustainable, and globally competitive energy sector in Saudi Arabia.
“Namaat is attracting both global industry leaders and local investors … who are building local businesses … that will benefit the local economy.”
Ahmad Al-Sa’adi, Aramco Senior Vice President of Technical Services
King Salman Energy Park (SPARK)
Via Namaat, and its ambitious partnerships, we look forward to assisting a multi-year journey of growth and innovation for Saudi Arabia.
To express your interest in partnering with Aramco Namaat, or if you have any questions about the program, please click on the below links:
Suppliers
Our goal is a world-class supply chain, with mutually beneficial supplier relationships for greater value and continued growth.