Partners commit to Saudi maritime yard

Saudi Aramco and partners Lamprell, the National Shipping Company of Saudi Arabia (Bahri), and Hyundai Heavy Industries have officially launched their International Maritime Industries joint venture.

Offshore staff

DHAHRAN, Saudi ArabiaSaudi Aramco and partners Lamprell, the National Shipping Company of Saudi Arabia (Bahri), and Hyundai Heavy Industries have officially launched their International Maritime Industries joint venture.

The integrated maritime yard, due to be fully operational in 2022, will be one of the largest full-service maritime facilities anywhere, Aramco claimed, extending across an area of almost 12 million sq m (129 million sq ft).

It will also provide a local focal point for the company’s supply chain related to offshore drilling and shipping activities, which should in turn lead to reduced response times.

The yard is designed to satisfy Aramco’s manufacturing and repair and maintenance requirements foroffshore oil and gas drilling rigs, offshore support vessels, and commercial vessels, including very large crude carriers (VLCCs).

It will have capacity to manufacture annually four offshore rigs, more than 40 vessels including three VLCCs, and to service more than 260 maritime products.

Abdallah I. Al-Saadan, chairman of the joint venture’s board and Aramco’s svp of Finance, Strategy & Development, said: “International Maritime Industries already has orders for more than 20 rigs and 52 ships over the next decade.”

Fathi K. Al-Saleem has been named CEO of the new venture.

01/02/2018

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