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Emerson invests $25 million in KSA technology and innovation centre.

Partnership with King Fahd University of Petroleum and Minerals will train future technologists and innovation leaders

Emerson has underlined its commitment to the Middle East and Africa market with the announcement of a $25 million investment to create a technology and innovation centre in partnership with the King Fahd University of Petroleum and Minerals in the Kingdom of Saudi Arabia.

Emerson signed an agreement to lease land in the Dhahran Techno Valley for the Emerson Centre for Technology and Innovation, which will train technologists and innovation leaders of the future. The move by Emerson accelerates the company's presence and growth in Saudi Arabia.

Developed in conjunction with the King Fahd University of Petroleum and Minerals , the work that will take place in the Emerson Centre for Technology and Innovation will provide Emerson and its customers with access to groundbreaking innovation, helping them solve the technical challenges of tomorrow and providing them with access to a skilled pool of talent.

His Excellency, The Rector, Khaled S. Al-Sultan greeted Emerson president and chief operating officer Ed Monser at a ceremony at KFUPM , Al Khobar, to mark the signing of the land lease.

Commenting on the agreement, Dr. Khaled Al-Sultan, Rector of King Fahd University of Petroleum and Minerals said that Dhahran Valley today is the best valley in the world in quality and quantity, and considered the largest science oasis specialising in oil and gas.

"The aim of Dhahran Techno valley is not financial profit. We are focusing instead on the developmental aspects, such as patents, contributing

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Publication:CPI Financial
Date:Oct 21, 2012
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