OWS Automotive OWS Automotive’s world-class UAE-based automotive service provider is a signatory to an arrangement with King Abdullah Economic City (KAEC) to set up a vehicle manufacturing facility to re-manufacture vehicles in Saudi Arabia.
The agreement was made by Cyril Piaia, CEO of KAEC as well as Oweis Zahran Oweis Zahran, the CEO at OWS Automotive, establishing OWS Saudi Arabia in KAEC, which signifies the entry of OWS into the Kingdom of Saudi Arabia.
OWS Saudi Arabia will see the opening of repair and maintenance centers, re-manufacturing and logistic facilities, accommodations for staff, business development tasks, and marketing activation within KAEC. Both organizations aim to create close to 1,000 jobs during the process eventually.
The move is a part of KAEC’s strategy to establish its hub for the regional automobile industry, which is in line with the KSA’s Vision 2030 strategy of diversifying the economy of the Kingdom. The CEO of KAEC, Cyril Piaia, commented, “The agreement allows us to leverage our facilities in premise, namely KAEC IV and King Abdullah Port, to further scale up our impact and contribute to strengthening capabilities within the local automotive sector and reflects on KAEC’s overhauled strategy to welcome third-party investors and partners within a dynamic environment.” He added, “As the home to a variety of car manufacturing and assembly facilities, we aim to continue building value alongside our industrial partners and pedestal KAEC as the automotive capital of Saudi Arabia.”
OWS Automotive CEO Oweis Zahran expressed his delight in the partnership as an opportunity to assist the local industry. “The automotive sector is an important element of Saudi Arabia’s economic diversification efforts, in line with Vision 2030’s objectives, and we are excited to participate in playing a part in its expansion alongside KAEC.” He continued, “As we continue to scale up operations, our agreement with KAEC marks an important step in widening our regional footprint and offering high-quality services within the Saudi market.”
According to the announcement, OWS Automotive is also looking at launching a training institute within KAEC to provide jobs to Saudi national residents in the wake of the academy’s debut.
