18 Muharram 1446 - 24 July 2024
    
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Eye of Riyadh
Business & Money | Saturday 6 January, 2024 6:07 am |
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LCGPA launches initiative to localize expansion joint industry

The Local Content and Government Procurement Authority (LCGPA), in cooperation with the Transport General Authority (TGA) and the Ministry of Municipal, Rural Affairs and Housing, offered an opportunity to localize the expansion joint industry on its website. This comes as part of its initiative to encourage the localization of industries, transfer knowledge within the Kingdom, enhance local capabilities and supply chains, and develop local content at the national economic level.

 

 

 

In a statement, LCGPA said that expansion joints are known as crucial components in bridge construction to deal with expansion and contraction. They include types such as rubber, metal, and composite expansion joints, allowing freedom of movement and reducing vibrations.

 

 

 

This opportunity contributes to achieving the local content targets in the road sector strategy, as part of the strategies derived from the national transport and logistics strategy. This opportunity will also introduce new industries and sectors in the Kingdom, promoting local content in the transport and logistics sector. It will also deliver the targeted contribution of the road sector to the Kingdom’s GDP, and create new job opportunities in the sector.

 

 

 

According to available data on Argaam, in December 2023, the Cabinet approved the decision of the Supreme Committee for Transport and Logistics to raise the local content target in the road sector strategy from 60% to 70% by 2030. This aligns with the local content target for government procurements.
 

 

 

 

source: Argaam 

 

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