By: ICN Bureau
Last updated : November 03, 2022 8:58 am
The JV aims to equip industrial companies with the tools, processes and practices to run plant operations more effectively
Honeywell and Aramco have announced the signing of a joint venture (JV) agreement to provide a set of end-to-end business process automation solutions, under the Aramco Namaat Industrial Investments Program.
The technology solutions can be offered to a wide range of industrial sectors to help maximize profitability, improve productivity, sustainability and operational excellence, on a global scale. The new JV offerings will leverage Aramco's Plant.Digital platform (formerly Integrated Manufacturing Operations Management System – iMOMS) as well as Honeywell Connected Enterprise's technology development and industrial digital solutions implementation experience.
The JV aims to equip industrial companies with the tools, processes and practices they need to run plant operations more effectively and accelerate sustainable digital transformation and operational excellence initiatives. It will emphasize the development, integration, and deployment of Operations Technology (OT) solutions and Digital Transformation consulting.
"This JV agreement with Honeywell is expected to bring new jobs to the market, contribute to economic growth and serves as another way in which Aramco continues to pursue its Digital Transformation program as part of its evolution to become the world's leading digitalized energy corporation," said Ahmad Al Sa'adi, SVP Technical Services at Aramco.
The JV offering combines Aramco's Plant.Digital platform and its technical and domain knowledge in end-to-end plant operations with Honeywell's global software development, systems integration capabilities and commercialization expertise to help industrial companies become more sustainable while maximizing yield, reducing downtime, improving plant productivity and increasing profit.
"The powerful combination of Aramco's business, operations, technology and Plant. Digital delivery expertise, coupled with Honeywell's proven experience in industrial software and big data analytics solutions, as well as our long tenure in the Kingdom, is anticipated to unlock tremendous value for the industry," said Kevin Dehoff, president and CEO, Honeywell Connected Enterprise.