SUMEC TOUCH WORLD

Saudi Aramco (Saudi Arabian Oil Company) is the state-owned petroleum and natural gas company of the Kingdom of Saudi Arabia. It is the largest and most profitable company in the world. In 2017 Saudi Aramco had launched the IKTVA (In Kingdom Total Value Added) program, aiming at developing a structure of local labour and sub-suppliers through 420 billion USD total investments in 5 years. In this context, buttweld fittings and clad pipes/fittings manufacturing are under consideration by Saudi Aramco for a localization within KSA, therefore this represents for Allied Group met attractive opportunity for establishing multiple facilities locally. During 2017 Allied Group met Rafid Group, one of the leading private multinational conglomerates in the Kingdom of Saudi Arabia (KSA) made up of more than 20 companies and affiliated businesses, providing products and services in the energy, utilities and infrastructure sectors.

Aasia Steel Co. Ltd. is part of Rafid Group, providing specialized services and products to local and international clients involved in the construction of the oil & gas, petrochemical, fertilizer, power,

desalination and infrastructure sectors.

Allied Group and Aasia Steel finally decided to form a new venture aimed at manufacturing locally some of the commodities most requested by the oil & gas industry in the KSA, in particular Saudi Aramco, such as buttweld fittings and clad fittings, hot induction large radius bends, welded pipes & clad pipes.