The construction arm of the Yuchengco Group of Companies, EEI Corporation said they are joining the Saudi Arabia Vision 2030, eyeing to produce more jobs for the Filipino workforce in terms of its construction business.

“Two months ago, I was with the President to sign an MoU, or memorandum of understanding. and tripartite agreement with Samsung Engineering NEC Co. Ltd., or SENEC, in Saudi Arabia to essentially support the 2030 Vision of Saudi Arabia to develop infrastructure, as well as its oil and gas,” Henry Antonio, president and CEO of EEI Corp, said during an interview in DAILY TRIBUNE’s digital show Straight Talk on Wednesday.

The signing of the MoU was aimed at collaborating and working on projects in the country and further expanding overseas work opportunities for Filipinos.

Under the MoU, EEI and SENEC were committed to work together and mutually explore opportunities to fulfill the development objectives of Saudi Arabia including providing support through Filipino manpower mobilization to the country.

He said the 2030 Vision involves Saudi Arabia’s shift from dependency on oil and gas to other sources, including the establishment of new cities that will rival financial center Dubai, dubbed as Neon City, a new urban area planned by the Kingdom of Saudi Arabia to be built in its northwestern Tabuk Province.

“Aside from that, they are also building all sorts of facilities in Saudi Arabia, including several roads,” he added.

Vision 2030 is Saudi Arabia’s master plan to transform and diversify its economy by shifting away from its reliance on oil and the focusing on other future growth industries.

By 2030, Saudi aims to achieve three main goals: which is to move away from economic reliance on oil, uplift the lives of its people, and sustain its place on the global stage.

“In Saudi, for example, we are building plants for ammonia for all the supply chains that will support the hydrogen power plant. Once you have all the supply chain, then it becomes a viable technology, and that is clean (hydrogen),” he said.

Opportunities for Filipinos

In an earlier statement, Antonio maintained that as Saudi Arabia continues to progress on Vision 2030, EEI is keen to participate in the rise of potential civil, infrastructure, oil and gas business, and employment opportunities for Filipinos.

“EEI would like to be present and help in the Vision 2030 endeavors of the Kingdom of Saudi Arabia. Saudi Arabia is projected to make heavy investments in construction projects like water systems, treatment facilities, roads, bridges, and livable spaces to accommodate the growing needs of its population and the demands of its vibrant economy. Saudi Arabia is also beefing up its transportation sector and we are optimistic that EEI will be able to contribute to the infrastructure development of the Kingdom. EEI’s vast experience and reliability in projects with our international partners is further evidence of our excellence and readiness to undertake massive projects here and abroad,” Antonio said.

He stressed that while it is exciting for EEI to seek and work on prospects for various projects under Saudi’s Vision 2030 plans, one of the most fulfilling tasks EEI Corp. has been providing overseas work opportunities for Filipinos.

“The multiplier effect of Saudi’s grand plan can also mean a great demand for the Filipino workforce that would ultimately benefit their families and loved ones,” according to Antonio.

The MOU of EEI Corp. and SENEC also came to fruition, as both companies recognize Filipino overseas workers’ skills, tenacity, adaptability, and resilience.

Labor skills in the fields of masonry, carpentry, electrical, welding, equipment management, warehousing, steel fabrication, and other construction-related crafts are seen to fulfill manpower requirements for EEI’s various projects not only in the Philippines but also overseas.

EEI has been present in Saudi Arabia since 1993 through Al Rushaid Construction Company Limited or ARCC, the joint venture company of Al Rushaid Petroleum Investment Corporation and EEI Limited, a wholly-owned subsidiary of EEI.

ARCC engages in general construction and has participated in various major developments in the Kingdom of Saudi Arabia, particularly in the construction of refineries and petrochemical plants, power and desalination plants, and mining and industrial facilities.

As one of Saudi’s largest Saudi-Filipino joint ventures, ARCC has provided vast overseas employment opportunities for Filipinos over the last thirty years.

As of the end of last year, ARCC employs 4,592 Filipinos among its 7,224 workforce and is set to add more with the new and potential prospects seen in Saudi Arabia’s Vision 2030 grand plan.