Arun ShankarAdvanced Electronics Company, a Riyadh based Saudi Economic Offset Program Company has signed a Memorandum of Agreement with Honeywell for collaborating on business development activities for smart and connected buildings, smart cities and critical infrastructure protection in Saudi Arabia. The MoA is signed during Saudi Arabian Smart Grid Conference 2018.
Under this Agreement, AEC and Honeywell will be working to develop long-term, strategic co-operation plans to jointly develop new business opportunities that will enable smart buildings and cities in Saudi Arabia. This will support the goals and objectives of Saudi Vision 2030, which has placed significant emphasis on sustainable development and economic diversification.
Commenting on this agreement, Eng Majed Al-Refae, AEC’s Vice President of Energy said, “This agreement reaffirms and demonstrates yet another example of the high quality of work performed by our employees, the majority of whom are Saudis. By working with technology leaders like Honeywell, AEC can expand its manufacturing and technology base and provide more meaningful employment opportunities to qualified Saudis.”
“We are proud to strengthen our partnership with AEC, which is an important step forward in supporting the development of smart buildings and cities in Saudi Arabia. This MoA will support the objectives of the country’s long-term vision of creating greater energy efficiency and sustainability,” said Meziane Ghaoui, Regional General Manager, Honeywell Building Solutions, Saudi Arabia.
AEC is involved in a number of important national defense, telecom and industrial and energy projects. Currently more than 78% of AEC employees are Saudi nationals working in a variety of challenging technical and professional positions. AEC Charter includes the full value chain of services for advanced Electronic Products and Systems for a variety of customers. Honeywell has been operating in Saudi Arabia for more than 50 years.
Key takeaways
- AEC is involved in national defense, telecom and industrial and energy projects.
- More than 78% of AEC employees are Saudi nationals working in technical and professional positions.
- AEC and Honeywell will be developing new business opportunities to enable smart buildings and cities in Saudi Arabia.
