Nesma & Partners Signs MoU with Tarmeem for Saudi Contracting Pioneers initiative at IKTVA 2023 ‎

Nesma & Partners, one of Saudi Arabia’s leading EPC contracting companies, has signed an MoU partnering with Tarmeem in the “Saudi Contracting Pioneers Initiative” at IKTVA 2023 Forum and Exhibition, where Nesma & Partners is participating as a Platinum Sponsor.

The initiative seeks to elevate the quality and quantity of renovation projects in the Kingdom, support local startup contractors, and contribute to the local content. It aims to establish a framework for startup contracting companies in maintenance and rehabilitation in the construction sector.

According to the agreement, Nesma & Partners will partner with Tarmeem to attract and support several local startup contracting companies, to create a positive impact by renovating and rehabilitating houses for families most in need. The initiative will attract ten contractors in its first phase, which will target renovating 50 houses and comprise 25% of Tarmeem’s goals for 2023. Nesma & Partners will provide training and advisory support regarding the technical and legal aspects of the startup companies participating in this initiative to ensure their organizational and technical development. Nesma & Partners and Tarmeem hope this initiative will have an additional impact on supporting local content by adopting restoration material from emerging local Building material companies. It is worth noting that since the inception of their strategic partnership, Tarmeem has rehabilitated over 80 houses sponsored by Nesma & Partners.

The signing ceremony took place during IKTVA 2023 forum and exhibition, the leading global energy supply chain event in the Kingdom organized by Saudi Aramco, held at the Dhahran Expo from Jan. 30 to Feb. 02, 2023. Nesma & Partners’ Board Member & Chair of Executive Committee, Rami Alturki, signed the Agreement with the Chairman of Tarmeem, Hamad Alkhaldi, in the presence of other officials and dignitaries from both sides.

Samer Abdul Samad, President & CEO of Nesma & Partners, said, “We are immensely proud to sign this agreement with Tarmeem. It is a great opportunity for us to bolster startup contractors’ positive impacts and establish new synergies towards realizing our mission of localizing opportunities and value while supporting sustainable socio-economic development in the Kingdom.”

“This initiative highlights the importance of in-kingdom contribution as a pillar towards our company’s strategy for growth. We also continue maximizing the localization of our supply chain, with our total procurement from local vendors reaching 40% in the past few years. And today, our efforts towards In Kingdom Total Value Add were rewarded by receiving the Iktva Excellence Award Highest Overall iktva Performance in the Construction sector.

We shall continue to support sustainable development in the Kingdom by empowering the local talents, businesses and industries, and the overall Saudi economy,” Mr. Samer concluded.