UAE-Based OWS Automotive Partners With KSA's King Abdullah Economic City To Establish Automotive Facility
OWS Saudi Arabia by King Abdullah Economic City and UAE-based global automotive service provider OWS is expected to create nearly 1,000 new jobs in Saudi Arabia.
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OWS Automotive, the UAE-based global automotive service provider, has signed an agreement with King Abdullah Economic City (KAEC) to establish a vehicle re-manufacturing facility in Saudi Arabia.
The agreement was signed by Cyril Piaia, CEO of KAEC, and Oweis Zahran, CEO of OWS Automotive, establishing OWS Saudi Arabia in KAEC which marks the entry for OWS in the kingdom.
OWS Saudi Arabia will see the launch of maintenance repair overhaul service centers, re-manufacturing and parts logistics facilities, accommodation for staff, business development functions and marketing activation from within KAEC. The two entities aim to ultimately create nearly 1,000 new jobs in the process.
The move is part of KAEC's goal of establishing itself as a hub for the regional automotive industry, which is in line with KSA's Vision 2030 strategy of diversifying the Kingdom's economy. KAEC's CEO Cyril Piaia commented, "The agreement allows us to leverage our facilities in premise, namely KAEC IV and King Abdullah Port, to further scale up our impact and contribute to strengthening capabilities within the local automotive sector and reflects on KAEC's overhauled strategy to welcome third-party investors and partners within a dynamic environment." He said, "As the home to a variety of car manufacturing and assembly facilities, we aim to continue building value alongside our industrial partners and pedestal KAEC as the automotive capital of Saudi Arabia."
OWS Automotive CEO Oweis Zahran expressed his enthusiasm on how the partnership is an opportunity to support the local industry. "The automotive sector is an important element of Saudi Arabia's economic diversification efforts, in line with Vision 2030's objectives, and we are excited to participate in playing a part in its expansion alongside KAEC." He added, "As we continue to scale up operations, our agreement with KAEC marks an important step in widening our regional footprint and offering high-quality services within the Saudi market."
According to its release, OWS Automotive is also considering launching a training academy within KAEC, aiming to offer job opportunities to Saudi nationals following the academy's launch.