KFUPM to boost student skills

King Fahd University of Petroleum and Minerals (KFUPM) has launched a center that would help boost the practical skills of its students, a senior official said recently.
The center is one of the main investments of KFUPM’s endowment fund, and would provide offices for some of the world’s top companies, said Ahmed Saad Al-Qahtani, the fund’s director.
He was speaking at the launch of the second phase of the endowment fund, which includes the establishment of a company to manage its assets. Eastern Province Gov. Prince Saud bin Naif also attended the event.
“The business center is one of the most important investments of the fund. It will be strategically located near the entrance of Saudi Aramco over 800,000 square meters,” said Al-Qahtani.
“When completed, it will have business and residential space available for carefully selected companies working in engineering, information technology, construction, training and consulting. It will offer first-class facilities for conferences, training and hospitality.
“The fund is looking to the business center to provide practical training for the university’s students and enrich the professional experience of faculty members. It will also provide opportunities for cooperation between the university and these companies.”
He said the fund’s assets now stand at SR1.8 billion, with two-thirds in cash and securities, and the remaining one-third in real estate. The goal is to raise SR3.5 billion over the next three years.
Earlier, Prince Saud chaired the first meeting of the third session of the board of directors, which included the adoption of financial statements for the fiscal year 2013. There was also approval of the funds received for 2015, and the formation of several operational committees.