King Fahd University of Petroleum and Minerals’ (KFUPM) Rector Khaled S. Al-Sultan unveiled the university’s Innovation Ecosystem Plan toward achieving Saudi Vision 2030, during the recent SABIC Innovation Day event.
Riyadh Gov. Prince Faisal bin Bandar opened the event in the presence of SABIC’s Chairman Prince Saud bin Abdullah bin Thenayan Al-Saud, Vice Chairman and CEO Yousef Al-Benyan, senior government officials, business leaders, company executives and media representatives.
Al-Sultan’s speech included two main parts: Innovation Imperative for Saudi Vision 2030 and Technology Innovation Ecosystem for Kingdom’s conversional downstream industry.
Regarding Innovation Imperative, he indicated that a more innovative Saudi conversional downstream industry can contribute in enhancing and strengthening the entire national ecosystem.
Al-Sultan indicated that today’s innovation is totally different from that in the past, adding that individual entrepreneurial efforts — although vitally important for achieving innovation — are not comprehensive.
“Today’s innovation is simply a system of many constituents and individual entrepreneurial efforts represent only one dimension.”
For the Kingdom to build an effective innovation model, it entails developing more capacity to innovate by: Increasing the numbers of engineers and scientists and growing the national expenditures on R&D to match those of the developed countries by encouraging private sector to invest in R&D.
Also, he indicated that the Saudi institutions can play a major role in this regard. It means Saudi universities will have to focus their efforts on producing high quality, relevant basic and applied research, foster creative thinking in students, and undertake the responsibility of developing indigenous entrepreneurial models.
At finance level, he mentioned that whole financial system of the country needs to follow the venture capital-based approach to cope with the anticipated economic changes between now and 2030.
Moreover, he described the foundational concepts that KFUPM undertook for developing its Technology Innovation Ecosystem.
KFUPM launches ecosystem plan on SABIC Innovation Day
KFUPM launches ecosystem plan on SABIC Innovation Day
Alfanar Engineering signs MoU with Schneider Electric Saudi Arabia
Alfanar Engineering Services announced the signing of a strategic MoU with Schneider Electric Saudi Arabia during its participation in the Saudi Arabia Smart Grid Conference. Both Schneider Electric and Alfanar Engineering have committed to further enhancing operational excellence and customer-centric service delivery thereby ensuring long-term asset reliability of their clients in the Kingdom.
Alfanar Engineering brings to the collaboration a strong in-Kingdom service footprint, supported by extensive operations and maintenance capabilities, advanced testing and commissioning equipment, and a network of specialized service centers and labs strategically located across Saudi Arabia. These capabilities enable the delivery of responsive, high-quality technical support tailored to the needs of critical infrastructure and industrial operations. Schneider Electric, with its extensive installed base of energy management and automation solutions, plays a key role in supporting mission-critical facilities and national industries across the Kingdom.
The collaboration was signed by Sattam Al-Motairi, chief operating officer of Alfanar Engineering Services, and Mohamed Shaheen, cluster president — Saudi Arabia, Schneider Electric. It brings together Alfanar’s local operational expertise and service reach with Schneider Electric’s global technologies and service standards. Together, the two companies will enhance service reliability, improve response efficiency, and deliver greater value through sustainable solutions that optimize asset lifecycles. The MoU also supports the development of localized technical services, contributing to the Kingdom’s objectives for sustainable infrastructure, localization, and industrial resilience.
Al-Motairi said: “At Alfanar Engineering Services, we believe that true value is created long after equipment is installed, through reliable service, fast response, and teams that understand the realities of the field. This collaboration with Schneider Electric enables us to enhance the delivery of after-sales services across the Kingdom, combining deep local expertise with world-class technology. Our focus is clear: keeping critical operations running, supporting our customers’ long-term success, and contributing meaningfully to Saudi Arabia’s industrial and infrastructure ambitions.”
Oday Al-Aithan, vice president of field services for Schneider Electric in Saudi Arabia, Pakistan, Yemen, and Bahrain, said: “At Schneider Electric, we are turning advanced energy management and digital solutions into tangible outcomes through our partnership with Alfanar Engineering Services. By combining our integrated technologies, extensive installed base, and global expertise as a leading energy technology partner with Alfanar’s strong in-Kingdom field services, we deliver smarter, faster, and more reliable solutions that optimize asset performance, accelerate response times, and support resilient, sustainable infrastructure, contributing to the Kingdom’s Vision 2030.”
