In a strategic move aimed at bolstering regional industrial collaboration, Oman's Voltamp Energy Company and Saudi Arabia's Al-Sharif Holding Group have joined forces to establish a high-voltage power transformer production plant in Saudi Arabia. The partnership, branded as "Saudi Voltamp", represents a substantial $10 million investment geared towards enhancing the Kingdom's power infrastructure with locally manufactured transformers.

The agreement, signed under the patronage of Sayyid Faisal bin Turki Al Said, Oman's Ambassador to Saudi Arabia, signals a significant step towards achieving both nations' ambitious visions. The factory, strategically located in the Western Region near Jeddah, is poised to become a key player in the region's power sector. The first phase, slated for completion by 2025, will focus on manufacturing 132 kV transformers on a sprawling 27,000 square-meter site. Subsequently, the second phase, envisaged for 2027, will witness the expansion of the factory to 45,000 square meters, ramping up production to include powerful 380 kV transformers.

This groundbreaking initiative aligns seamlessly with Oman's Vision 2040, prioritizing economic diversification and international collaboration, while also resonating with Saudi Arabia's Vision 2030 goals of fostering domestic industry and building a thriving economy. Ayman bin Hamad Al Busaidi, Chairman of Voltamp Energy, expressed confidence in the collaboration's potential to benefit both companies and contribute to the wider objectives of Oman and Saudi Arabia.

Echoing this sentiment, Al-Sharif Nawaf bin Fayez, CEO of Al-Sharif Holding Group, highlighted the joint venture's significance in achieving industrial expansion goals and meeting the Kingdom's growing demand for high-voltage transformers. The signing ceremony, held at the Al Faisaliah Hotel in Riyadh, underscored the strong ties between Oman and Saudi Arabia and witnessed the participation of dignitaries from both countries, including representatives from various governmental bodies.

Source: timesofoman.com