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Saudi Aramco and its partners; Lamprell Plc, the National Shipping Company of Saudi Arabia (“Bahri”); and Hyundai Heavy Industries Co. Ltd. (HHI), today announced the official launch of their International Maritime Industries (IMI) joint venture. When fully operational in 2022, this integrated maritime yard will be one of the largest full-service maritime facilities.
Saudi Aramco, Dussur – the Saudi Arabian Industrial Investments Company, and Hyundai Heavy Industries (HHI) announced a Memorandum of Understanding (MOU) to jointly collaborate on engines and pumps business development in the Kingdom of Saudi Arabia.
Saudi Aramco signed a shareholder agreement with Lamprell plc (“Lamprell”), the National Shipping Company of Saudi Arabia (“Bahri”), and Hyundai Heavy Industries Co. Ltd (“HHI”) to enter into a joint venture (“JV”) partnership with respect to the establishment, development and operation of a world-class maritime yard, which is the anchor project within the King Salman International Complex for Maritime Industries and Services located in Ras Al-Khair, near the Jubail Industrial City on the Kingdom’s east coast.
Nearly 40 Korean companies and 100 participants recently attended the “Downstream Manufacturing Opportunities in Saudi Arabia” forum in Seoul, South Korea, as a way to promote investment opportunities in Saudi Arabia.