Saudi Aramco's iktva reaches 70% local content milestone

Saudi Aramco said its iktva program has reached 70% local content and has contributed more than $280 billion to Saudi Arabia's GDP; the company plans to increase local procurement to 75% by 2030.

Saudi Aramco announced that its iktva (In-Kingdom Total Value Add) supply chain program has reached a 70% local content level. The company said the program has contributed more than $280 billion to the Kingdom's gross domestic product since its launch. Aramco plans to increase local content in goods and services procurement to 75% by 2030. Company leadership described iktva as central to building a national industrial ecosystem and to strengthening supply chain resilience. Key points: - The iktva program has achieved a 70% local content level in Aramco procurement. - Aramco has set a new target of 75% local procurement by 2030. - iktva is reported to have contributed more than $280 billion to Saudi Arabia's GDP since launch. - The program identified over 200 localization opportunities across 12 sectors, with an annual market value of $28 billion. - More than 350 investments from 35 countries supported new manufacturing facilities in the Kingdom, backed by about $9 billion in capital. - iktva has enabled local manufacture of 47 strategic products and is reported to have contributed to over 200,000 direct and indirect jobs. Summary: The announcement highlights a measurable increase in domestic sourcing that Aramco presents as supporting industrial development, job creation, and supply chain reliability. The company reports that iktva has helped attract foreign investment and build new local manufacturing capacity. The stated next milestone is raising local content in procurement to 75% by 2030.