Nesma & Partners, one of Saudi Arabia’s leading EPC contracting companies, has signed an MoU partnering with Tarmeem in the “Saudi Contracting Pioneers Initiative” at IKTVA 2023 Forum and Exhibition, where Nesma & Partners is participating as a Platinum Sponsor.

The initiative seeks to elevate the quality and quantity of renovation projects in the Kingdom, support local startup contractors, and contribute to the local content. It aims to establish a framework for startup contracting companies in maintenance and rehabilitation in the construction sector.

According to the agreement, Nesma & Partners will collaborate with Tarmeem to attract and support several emerging local contracting companies to make a positive impact by renovating and rehabilitating the homes of families in need. The initiative will attract ten contractors in its first phase, targeting the renovation of 50 homes, which will represent 25% of Tarmeem's goals for 2023.

Nesma & Partners will provide training and consulting support regarding the technical and legal aspects for the participating emerging companies to ensure their organizational and technical development. Nesma & Partners and Tarmeem hope that this initiative will have an additional impact in supporting local content by adopting restoration materials from emerging local building materials companies. It is noteworthy that since the beginning of their strategic partnership, Tarmem has rehabilitated over 80 homes under the sponsorship of Nesma & Partners.

The signing ceremony took place during the IKTVA Forum and Exhibition 2023, the Kingdom’s leading global energy supply chain event organized by Saudi Aramco, which was held at Dhahran Expo from January 30 to February 2, 2023. The agreement was signed by Samer Abdul Samad and the Chairman of Tarmeem, in the presence of other officials and dignitaries from both sides.

Samer Abdul Samad, President & CEO of Nesma & Partners, said: "We are extremely proud to sign this agreement with Tarmeem. It is a great opportunity for us to enhance the positive impacts of emerging contractors and establish new synergies towards achieving our mission of localizing opportunities and value while supporting sustainable social and economic development."

"This initiative highlights the importance of contribution within the Kingdom as a pillar of the company’s growth strategy. We also continue to maximize the localization of our supply chain, with total purchases from local vendors reaching 40% in recent years. Today, our efforts towards overall value-added in the Kingdom culminated in winning the IKTVA Excellence Award for Best in Overall IKTVA in the construction sector."

Samer concluded by saying, "We will continue to support the sustainable development in the Kingdom by empowering local talents, companies, industries, and the Saudi economy in general."