Saudi Aramco (Asia) & NSIC under MSME Min sign MoU for oil & gas sector development

New Delhi: An MoU has been signed on 5 December between the National Small Industries Corporation (NSIC) and Aramco Asia for the development of MSME Ecosystem in India in Oil & Gas Sector, said a Press communication from the Ministry of Micro, Small and Medium Enterprises (MSME) today, adding that the Memorandum of Understanding (MoU) will pave a way for accredited Indian MSMEs to carve out a space as vendors in the Global space.

P. Udayakumar, Director (P&M) from NSIC; and Mohammed Al Mughirah, President, Aramco Asia inked the MoU. The dignitaries Said Bin Mohammed Al Sati, Ambassador of Saudi Arabia; Abdullah Melfi, Strategic Sourcing Head, Aramco; and more than 200 units from India witnessed the event.

NSIC is the flagship Mini Ratna PSU under Ministry of MSME in the business of facilitating MSMEs in India. Aramco is the world’s largest oil & gas company, operating under the Govt. of Saudi Arabia and with a reported revenue of $355 billion (2018) and estimated market value of $1.5 trillion, said the MSME Ministry.

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The ID Staff

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