Siemens, SAP sign cooperation deals with Saudi Arabia: officials

[May 01, 2017]  JEDDAH (Reuters) - Saudi Arabia wants German companies Siemens and SAP to play an important role in furthering the kingdom's "digital transformation", company officials said on Sunday during German Chancellor Angela Merkel's visit to the country.

Saudi Crown Prince Mohammed Bin Nayef shakes hands with German Chancellor Angela Merkel during a reception ceremony in Jeddah, Saudi Arabia April 30, 2017. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

Top executives at the engineering conglomerate and the business software company who were traveling with Merkel signed declarations of intent to work with the Saudi authorities, the officials said.

Saudi Arabia is pushing a long-term economic transformation dubbed "Vision 2030" to reduce the country's reliance on oil, attract investment and improve the lives of its citizens.

Siemens signed a framework agreement with the Saudi National Industrial Clusters Development Program (NICDP) which the German group said could lead to equipping infrastructure projects worth at least a billion euros.

The company also wants to provide vocational training in Saudi Arabia, while SAP has agreed with the Saudi Ministry of Planning to cooperate on the country's digitization efforts, officials said.

The German business delegation traveling with Merkel on her Gulf visit also includes the chief executives of Lufthansa, national railway operator Deutsche Bahn [DBN.UL] and industrial services group Bilfinger.

(Reporting by Andreas Rinke; Writing by Andreas Cremer; Editing by Greg Mahlich)

[© 2017 Thomson Reuters. All rights reserved.]

Copyright 2017 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.