MONTREAL, Dec. 13, 2017 /CNW Telbec/ - SNC-Lavalin (TSX:
SNC) and Saudi Aramco today signed a Memorandum of Understanding ("MoU") signalling SNC-Lavalin's continued commitment to
creating and accelerating opportunities for local workforces in the Kingdom of Saudi Arabia.
The MoU supports Saudi Aramco's In-Kingdom Total Value Add ("IKTVA") program, which applies to Saudi Aramco suppliers and
drives the localization of oilfield services and equipment value chain, to strengthen and diversify the Saudi economy; transfer
technologies, skill and knowledge through training and development; and create thousands of new jobs for the growing Saudi
population.
Neil Bruce, President & Chief Executive Officer of SNC-Lavalin, was present for the
signing, and said: "SNC-Lavalin has been operating in Saudi Arabia for over 40 years, with a
clear commitment to developing local talent and creating opportunities for local supply chain. In recent years, our
presence has grown rapidly, in large part due to our ongoing Saudization efforts and on ground presence."
"I am proud to sign the agreement today, which reflects our long-term commitment to the region and our valued and trusted
relationship with Saudi Aramco, and gives a working platform to accelerate our ongoing efforts to meet and exceed the objectives
set within the IKTVA initiative."
Christian Brown, President, Oil & Gas, SNC-Lavalin, added: "Our work for Saudi Aramco is of
great importance to us; we have close to 10,000 team members working in the country and putting in place such a framework around
iktva means we can continue to grow and execute additional scopes on behalf of Saudi Aramco. Our presence, scale and experience
in the region mean we are well placed to implement this, and we see strong demand for similar initiatives supporting economies
and social development in our active bidding."
About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company and a major
player in the ownership of infrastructure. From offices around the world, SNC-Lavalin's employees are proud to build what
matters. Our teams provide comprehensive end-to-end project solutions – including capital investment, consulting, design,
engineering, construction, sustaining capital and operations and maintenance – to clients in oil and gas, mining and metallurgy,
infrastructure and power. On July 3, 2017, SNC-Lavalin acquired Atkins, one of the world's most
respected design, engineering and project management consultancies. www.snclavalin.com
SOURCE SNC-Lavalin
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