Japanese plant manufacturer signs corporate procurement agreement with oil giant
Saudi Aramco has awarded Japan’s Hitachi Plant Technologies a corporate procurement agreement (CPA) that will see the company supply compressors to the oil giant.
Hitachi becomes the fourth compressor supplier, the first from Japan, to sign a CPA with other signatories, including Germany’s Siemens and the US’ GE.
Hitach will now look to establish after-service facilities in the kingdom, with a view to eventually establishing a manufacturing centre in the future, the firm said in a statement.
The company has identified the GCC region as a key market for expansion and hopefully push the company’s revenues to about $750m by 2015.