AVK Saudi Valve Manufacturing Co. Ltd. (AVK SVMC) has signed a strategic Memorandum of Understanding (MoU) with Hyundai Engineering & Construction (Hyundai E&C) to enhance collaboration in local manufacturing, technology transfer, and supply-chain integration within Saudi Arabia’s industrial infrastructure sectors. The partnership aligns with Saudi Vision 2030 and Aramco’s Namaat program.
The MoU was formalized during Hyundai E&C’s Saudi Strategic Partners Partnership Program in Seoul, a two-day event connecting Hyundai with its leading Saudi partners. AVK SVMC participated as one of only eight companies worldwide previously recognized by Hyundai with the H-Prime Leaders Award, out of 8,700 global suppliers.
The agreement focuses on three key areas:
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Local production of valves and related components for Hyundai E&C projects in Saudi Arabia.
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Technology transfer and engineering collaboration to boost innovation, efficiency, and safety.
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Public-private cooperation supporting localization and sustainability objectives under Vision 2030.