Friday, January 4, 2013

GE Makes New Saudi Commitment

General Electric,active in Saudi Arabia since 1942,has made a new commitment to invest 1 billion dollars there in the fields of energy,health care and innovation.The GE Innovation Center will be a collaborative place that will foster innovation in its DNA and drive a culture of co-creation to realise Vision 2020,the company says.The Center will open in early 2013 in the Eastern Province's Dharhan TechnoValley.
Vision 2020 emphasises Energy Diversification;Education;Research and Development;Quality Health Care;and Human Capital.The GEIC will bring together different players from customers,to academics and think tanks to collaborate and co-create,with the shared goal of finding solutions to realise Vision 2020.Reportedly 92% of Saudis feel innovation can drive a competitive economy.GE will work to incubate local innovation through the GEIC.
GE is providing Saudi Arabia with military and commercial aircraft jet engines;health care technologies and training;gas turbine technology through the GE Manufacturing Technology Center,or GEMTEC;and financial solutions.GEMTEC manufactures and services high tech energy equipment in the form of highly reliable and efficient gas turbines,which are characterised by operational flexibility and reduced emissions.
GEMTEC supports Saudi Arabia's strategic direction for the future.It currently employs 350 people,50% of whom are Saudis.GE is expanding GEMTEC to provide hundreds of new jobs in several new buildings.

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