Saudi Arabian Amiantit Company

Championing Saudi Arabia’s mission for blue prosperity

Feras Bin Ghassab Al-Harbi, CEO, Saudi Arabian Amiantit Company, talks about the company’s role as a national champion in growing Saudi Arabia’s water sector under the Vision 2030 initiative and its current strategies in maintaining its lead market position both at home and around the world.

Saudi Arabia is currently modernizing its water sector under its comprehensive National Water Strategy as part of its wide ambitions to achieve the United Nations’ Sustainable Development Goals. The state initiative consists of 10 programs set to revolutionize the sector, including the establishment of the National Water Efficiency and Conservation Center and a move to privatize production and wastewater treatment. Saudi Arabia intends to achieve uniform access to safe drinking water and increase the percentage of citizens covered by sanitation services to more than 95% by 2030. In March 2023, Deputy Minister of Water Abdulaziz Al Shaibani announced the country would spend more than $80 billion on revamping the sector in the coming years. To meet the speedy rise in activity, Saudi Arabia’s principal private water industry players such as Saudi Arabian Amiantit Company are widening their range of activities in the local market. “Amiantit Group's stature as a national champion is evidenced through its active contributions towards achieving sustainability and developing human and industrial capacities within the Kingdom,” said Feras Bin Ghassab Al-Harbi, CEO, Saudi Arabian Amiantit Company. “We aim to enhance the added value of our national economy.”

Established in 1968, the company has grown to become a one-stop-shop for all operations in the international water sector, including design, manufacturing, marketing and sale of pipes, engineering and design of water facilities. The Dammam-headquartered entity now has 23 operating plants in the Middle East, Europe, Asia and Africa through its various local and international subsidiaries, including 12 facilities in Saudi Arabia. “Our product line has grown to encompass not only our flagship glass reinforced plastic pipes but also a diverse portfolio including valves, glass reinforced epoxy pipes, ductile iron pipes and high-density polyethylene pipes,” said Al-Harbi. “Strategic acquisitions have been an important strategy in broadening our product lines and expertise.” Since becoming a joint-listed company on the Saudi Stock Exchange in 1996, good governance, transparency and sustainability have become core themes throughout every segment of the organization. “We are now positioned as a major exporter of these values,” the CEO explained. “The company has a zero-tolerance policy for any deviations or non-compliance with our quality standards to prevent the production of any products that do not meet the required specifications.” Central to the company’s ethos is its licensing system, which aims to distribute its patented technologies through collaborative partnerships. “This model not only stimulates innovation but also expands our market presence while ensuring the maintenance of high-quality standards around the globe,” he said. The company saw a rise in revenues of 41% in 2023 compared to the previous year, largely due to an upsurge in activity in the Gulf Cooperative Council region.

According to Al-Harbi, a foremost focus on research and development has been fundamental in driving the company’s global growth. Saudi Arabian Amiantit Company runs two research centers, one in Dammam, Saudi Arabia, and the other in Sandiford, Norway, with equipment at both reaching a value of $16.1 million. The latter facility was instrumental in setting the company’s products as the industry standard. “We developed glass reinforced plastic technology at this research center along with the continuous fiber winding process that paved the way for global adoption of this technology,” said Al-Harbi. “We are currently developing a new system that includes replacing asbestos pipes with modern technology.” The company’s research center in Saudi Arabia was established to boost the company’s ability to serve its local market and enhance the local engineering expertise. The facility is located in Saudi Arabia’s Dhahran Techno-Valley and was built in collaboration with the King Fahad University for Petroleum and Minerals. In 2023, annual spending on research and development for the company reached $13.9 million.

Outside of its manufacturing activities, Saudi Arabian Amiantit Company’s recent projects in Saudi Arabia are largely centered around its German engineering, procurement and construction subsidiary PWT.

The company has recently undergone a wide number of reforms to up its attractiveness as a global partner, including creating a dynamic environment for its human capital. Al-Harbi points to the company’s success in retaining its employees: “More than 20% of our employees have a tenure of over 10 years, and more than 30% of our employees have worked for the company for more than 20 years.” According to him, the high retention rate is in part due to the company’s international footprint, the aforementioned dynamic licensing program and its strong collaborative efforts with local universities. Around 5% of all current employees at the company were once trainees. The CEO also expressed interest in sparking new collaborative projects with partners from around the world: “The company's financial capability, marketing prowess, human resources and esteemed reputation cultivated over more than 50 years make Amiantit an attractive investment environment for all global investors, including Americans.” Moving forward, the CEO recently intends to launch a new five-year plan to further diversify the company and sustain its position as a global powerhouse under the Vision 2030 initiative. “Maintaining a leading position in the market of a large and endowed corporation with widespread presence and advanced technologies represents one of the most formidable challenges for any CEO, particularly in the aftermath of restructuring,” he said. “Strategic planning is the cornerstone of success.”