RIYADH: King Abdullah Economic City has signed an agreement with OWS Automotive to develop a vehicle remanufacturing facility within the city, according to a press release.
The agreement, signed by KAEC's CEO Cyril Piaia, and Oweis Zahran, CEO of OWS Automotive, sees the development of maintenance repair overhaul service centers, re-manufacturing logistics facilities, and accommodation for staff within KAEC.
“We’re very excited about this partnership as opportunities to support the local industry and combine it with OWS Automotive’s experience in the region are immense,” said Zahran.
KAEC has been finalizing deals with car manufacturers after the US-based electric vehicle manufacturer Lucid Motors signed an agreement last May to build a production factory with an annual capacity of 150,000 zero-emission electric vehicles.
The city is already home to a host of big names in the truck assembly sector, including Renault, Volvo and Rosenbauer.
"Early this year, we signed a deal with Juffali Automotive Co. to move its facility from Jeddah to here. The company assembles Mercedes trucks," Majid Matbouly, head of the industrial valley at KAEC said at an earlier interview with Arab News.
“With our sights set on creating a truly dynamic city home to world-class infrastructure and leading services across a variety of industries, our agreement with OWS Automotive is beneficial in all regards,” Piaia said.
OWS Automotive is also considering launching a training academy within the city, which aims to offer 200 jobs to Saudi nationals, expanding to 1,000 jobs when the facility is fully operational.
Founded in the US 30 years ago, OWS Automotive focuses primarily on providing governments and corporate fleets with automotive services including systemization and fleet maintenance repair and overhaul, according to the statement.
