Riyadh - Mubasher: Saudi Basic Industries Corporation (SABIC) has signed on Thursday memorandums of understanding (MoUs) with six multinational suppliers, according to a company statement.

Suppliers include Siemens, ABB, Elliott Group, as well as Yokogawa and Mitsubishi, and Emerson, Saudi Gazette reported, citing the Saudi Press Agency (SAP).

The agreements set out the framework of cooperation between the parties to enable SABIC to seek joint opportunities and achieve top quartile performance in manufacturing, the statement said.

The strategic purpose of these alliances is to support Saudi Vision 2030 by stimulating national economy and local content, achieve industry-leading performance, leverage technology innovation, enhance knowledge sharing and identification of lucrative opportunities with market-leading organizations, it added.