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Honeywell and Aramco have announced a new partnership to provide comprehensive digital solutions to the industrial sector | |
| Staff Writer |
Under the Aramco Namaat Industrial Investments Program, Honeywell (NASDAQ: HON) and Aramco have signed a JV agreement to supply a suite of end-to-end business process automation solutions to increase global profitability, productivity, sustainability, and operational excellence.
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Honeywell Connected Enterprise's expertise in technology development and industrial digital solutions implementation will be leveraged in the new JV offerings, together with Aramco's Plant. Digital platform (previously Integrated Manufacturing Operations Management System - iMOMS). The goal of the joint venture is to help industrial firms speed up their efforts to sustainably digitally transform and improve their operational excellence by providing them with the tools, methods, and practises they need to run plant operations more efficiently. Operations Technology (OT) solution development, integration, and deployment, along with Digital Transformation (DT) consultancy, will be focal points.
“This JV agreement with Honeywell is expected to bring new jobs to the market, contribute to economic growth, and serves as another way in which Aramco continues to pursue its Digital Transformation program as part of its evolution to become the world’s leading digitalized energy corporation,” said Ahmad Al Sa’adi, SVP Technical Services at Aramco.
“The powerful combination of Aramco’s business, operations, technology, and Plant. Digital delivery expertise, coupled with Honeywell’s proven experience in industrial software and big data analytics solutions, as well as our long tenure in the Kingdom, is anticipated to unlock tremendous value for the industry,” said Kevin Dehoff, president, and CEO, of Honeywell Connected Enterprise.
Within five years, the new JV is projected to generate more than 300 new jobs in Saudi Arabia, contributing to the Aramco Namaat Industrial Investments Program. For almost 60 years, Honeywell and Aramco have worked together to strengthen Saudi Arabia's position as a global leader in the manufacturing sector. An MoU was signed between Honeywell and Aramco in September 2021 to investigate the possibility of working together on the development and commercialization of a digital technology solution for industrial businesses; this JV represents the most recent step in that direction.