Immensa (“the Company”) announces its strategic alliance with Intaj Suhar for Advanced Manufacturing LLC (“ISAM”) in Oman, via a Memorandum of Understanding (“MOU”) signed – to boost in-country manufacturing.
In line with Immensa’s business model – building digital warehouses servicing the energy sector to enable spare parts on demand – the MOU will lead to collaboration to localize the manufacturing process into Oman. Immensa’s strength in digital inventory solutions and additive manufacturing, coupled with ISAM’s local capabilities, will create a complete solution for Omani companies to procure locally produced parts.
Today’s announcement complements Oman’s key strategies of the Ministry of Energy and Minerals’ ‘In Country Value’ and ‘Manufacturing for Wellbeing’ Strategy 2040 – which pledge to pursue “a modern and technologically advanced manufacturing base” and to utilize “the most innovative production techniques”, boosting in-country spending on goods and services to supercharge the oil and gas sector. Strengthening the supply chain via the local sourcing of goods and parts, the MoU directly aligns with Oman’s aims of a sustainable and competitive local market.
Oman is an important milestone in Immensa’s organic growth plans. The strategic partnership with ISAM will further catalyze the Company’s growing regional expansion.
Sary Diab, COO of Immensa, said: “We are delighted to sign this MOU with an esteemed manufacturer such as ISAM and extend our solution in Oman. It is an attractive market for Immensa and in line with our organic regional growth strategy. We also look forward to strengthening Oman’s manufacturing sector and accelerating its adoption of cutting-edge technologies – in line with the country’s Manufacturing for Wellbeing and In Country Value strategies. We are committed to bettering the energy supply chain, benefitting local businesses operating in the wider sector, and boosting the Omani economy.”
Majid Al Hinai, General Manager of Intaj Suhar, commented: “ISAM is excited to enter this collaboration with Immensa, which will greatly enrich ISAM’s additive manufacturing capabilities AM. The partnership with Immensa, an esteemed AM manufacturer, aligns perfectly with ISAM’s growth strategy and presents a tremendous opportunity to expand our solutions in the attractive market of Oman.
“This collaboration also aligns with ISAM’s commitment to strengthen Oman’s manufacturing sector and contribute to the country’s Manufacturing and In Country Value strategies. By accelerating the adoption of cutting-edge technologies, we aim to enhance the energy supply chain by AM technology adoption and contribute to the growth of the Omani economy.
“This partnership will drive innovation, foster growth, and make significant contributions to the manufacturing industry in Oman and beyond, positively impacting local and regional economies.”
Today’s announcement follows Immensa’s recent appointment of former President and CEO of GE International Markets – Nabil Habayeb – to its Board, assisting in the Company’s large-scale industrial implementation and rapid expansion.
In December 2023, Immensa announced a milestone in the global gold standard certification for the additive manufacturing of metallic parts – achieving the DNV-ST-B203 AM standard; plus MOUs signed in Saudi Arabia with the National Industrial Development and Logistics Program (NIDLIP) and King Abdulaziz City for Science and Technology (KACST); and November’s US$20 million Series B funding round, led by Global Ventures – MENA’s leading Venture Capital firm.
Immensa operates in the global energy spare parts market – a sector valued at US$91 billion – of which the Middle East comprises 35% – and is the only company to own and control the full digital supply chain. Immensa works closely with end users, revolutionizing the sector by providing digital warehouse solutions and creating more agile supply chains – as legacy structures often struggle to meet customer needs and preferences promptly and cost-effectively.
A digitized spare parts supply chain provides various tangible benefits for energy companies, including financial advantages such as cash release and lower inventory ownership costs. It also provides operational benefits such as localized production, along with environmental benefits such as reduced wastage and a lower carbon footprint. Annually, energy companies face unnecessary losses estimated at US$30 billion.