Invensys inks pact to set up R&D center in Dhahran Techno Valley

Invensys, a UK-based multinational company specialized in developing automation and control systems, has signed an agreement to set up a world-class R&D center in Dhahran Techno Valley (DTV) at King Fahd University of Petroleum & Minerals.
The agreement was signed by Khalid Al-Sultan, rector of KFUPM and chairman of DTV company board; Halim Hamid Redhwi, CEO (A) of DTV Company, and Franco Restelli, president of Invensys Europe, Middle East and Africa.
Also attending the ceremony was Najeeb Al-Naim, GM, Invensys Saudi Arabia, Bahrain & Pakistan.
The agreement highlighted the intention of Invensys to establish a center for research and development in automation and control systems for oil and gas, energy and construction sectors. The total land area leased for the purpose is approximately 8,000 square meters.
Al-Sultan said he was happy to have Invensys in the list of companies at DTV Science Park, especially as they work in a very important field of developing advanced techniques for the control systems.
Al-Sultan stated that the objectives of establishing DTV is to promote knowledge-based economy in the Kingdom. He added that DTV is a unique world-class research complex specialized in the energy sector and the peripheral fields. He also mentioned that seven R&D centers are currently operational in DTV and five others are in different phases of design and construction. KFUPM plans to flourish the valley in three phases of construction, of which the first phase is nearing completion.
Invensys develops, designs and supplies advanced technologies (both hardware and software) that improve operational performance and efficiency of oil refineries, power plants, mining companies and food industry, Restelli said. "Invensys is proud to work with all of the leading companies in oil and gas, power and energy sector in the Kingdom and that the R&D Center in DTV will begin its operations in early 2015."
Redhwi stated that DTVC through the establishment of its science park has embarked onto creating the culture of technology development and technology transfer among the various stakeholders including KFUPM, Saudi Aramco, companies in DTV Science Park, etc. This intention is in line with the Saudi Arabia's national strategy of promoting knowledge-based economy.
Dhahran Techno Valley is renowned globally as a world-class research complex housing energy centric multinational giant companies' R&D centers.