Saudi authority signs agreement with Neom’s Oxagon to boost Future Factories Program
A memorandum of
understanding has been signed between Saudi Authority for Industrial Cities and
Technology Zones (Modon) and Oxagon, Neom’s industrial zone, to fast track the
implementation of the Future Factories Programme.
The program will promote a strong technology ecosystem for a sustainable digital transformation of the manufacturing sector in Saudi Arabia. It seeks to remodel 4,000 existing factories in order to enhance the country's competitiveness in the world.
Legislation is one of the key aspects of this agreement to provide incentives and enablers that will remove barriers to industrial innovation in the kingdom.
Under this deal, experts will explore ways to integrate modern technologies, such as artificial intelligence, 3D printing and Internet of Things (IoT) into manufacturing industries at Oxagon.
"Through this programme, we aim to enhance the competitiveness of local industries and create significant job opportunities in key areas for the Saudi youth in line with the goals of Saudi Vision 2030," remarked Osama bin Abdulaziz Al Zamil, Deputy Minister of Industry and Mineral Resources.
Initially announced in July 2022, the Future Factories Program aims to analyze factories' operational readiness by assessing their Smart Industry Readiness Index (SIRI).
Under the program, Over 4,000 factories will be transformed into advanced and higher-quality industries through automation and enhanced efficiency.
On the key deal, Neom CEO Nadhmi Al Nasr said: “Oxagon represented the future of advanced clean industries and will be powered by 100% renewable energy.”
Oxagon CEO Vishal Wanchoo said: "We are continuously seeking new ways to transform the future of manufacturing and create a sustainable industrial blueprint for the world. By mixing the state-of-the-art approaches from Industry 4.0, utilization of solely renewable energy and circular economy principles, Oxagon will enable industries of the future to avoid environmental degradation and preserve efficiency and profitability."
Over the next few months, Oxagon and Modon will form a joint working group to develop an action plan to implement the program as stipulated in the MoU.
Source: http://www.tradearabia.com/
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